Norwegian Prince sounds satisfaction for relations with Azerbaijan

Norway is very pleased with the close relationship with Azerbaijan in the energy sphere and the increasingly close cooperation between Statoil and the State Oil Company of Azerbaijan Republic (SOCAR), Crown Prince of Norway Haakon said in an interview to The Business Year magazine.

He said Norwegian Statoil was among the first international oil companies to invest in Azerbaijan.

According to Crown Prince Haakon, Azerbaijan has clear and transparent rules and practices governing both the extraction of resources and the handling of the revenues generated. He said he is pleased about Norway's cooperation with Azerbaijan in the framework of the Extractive Industries Transparency Initiative (EITI).

The Caspian region plays an increasingly important role in the world energy market, Crown Prince Haakon said.

"Azerbaijan has long proven itself to be a reliable and important partner as a producer of oil and gas, and our two countries share the ambition of being reliable suppliers of energy to Europe," he said.

He noted that Azerbaijan has a key role to play as the enabler of the Southern Gas Corridor, which will link the Caspian region even closer to Europe.

"Norway fully supports the Southern Gas Corridor, which will further enhance Europe's supply security. The corridor is important to many European countries," Crown Prince Haakon said.

The Norwegian supply industry has also made substantial deliveries to projects in the Caspian Sea area, he said.

According to Crown Prince Haakon, Norway hopes to see a continued dialogue on other topics for the mutual benefit of our two nations, such as regional stability, security, human rights, and democracy.

"I hope to see the mutually beneficial partnership between Azerbaijan and Norway develop in the years to come, both in the energy sphere and in other areas," Crown Prince Haakon said.

The Southern Gas Corridor is a major energy project for the EU. It is intended to diversify routes and sources of supply. It is aimed at ensuring EU energy security. Gas which will be produced during the second stage of Azerbaijani Shah Deniz field development is considered as the main source for the Souther Gas Corridor projects.

Currently, the Shah Deniz consortium considers two options to deliver its gas to Europe - Trans Adriatic Pipeline (TAP) and Nabucco West. The final decision on a pipeline route will be made in 2013.


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