Conference called “The role of the Caspian Sea in global energy security of the region” held in Geneva

It is informed in the joint declaration adopted by the representatives of Azerbaijan, Turkey, Russia, Iran and Kazakhstan which joined the conference that the energy sector of the Caspian Sea region needs capital in the amount of milliards of dollars.

As to the authors of the declaration, this capital will allow the European countries, post-soviet countries, USA and the countries being the members of the European Economic Commission of UNO to increase the gas and oil export. It is informed in the declaration that “the interested countries will cooperate with each-other and their supporters for expanding the possibilities of transferring energy carriers, forming new transport passages and constructing new production system.

The countries situated in the Caspian Sea region must provide suitable environment for investing capital in the region and must provide entering of energy carriers to the European market without any limit”. It is informed in the document that double increasing of the production level of energy carriers in the Caspian Sea region during near 5-10 years will create new opportunities before the countries exporting oil, thus the danger of risk will reduce a lot in the energy market.

/APA/