Azerbaijani Economy 7 june — 15:23

Minister Shahbazov: Joint energy projects turn Azerbaijan and Turkey into important global energy hubs

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Minister of Energy Parviz Shahbazov attended the '4th Energy and Natural Resources Summit' organised by Turkuvaz Media Group and held with the support of the Ministry of Energy and Natural Resources of Turkey. As reports the press-service of the Ministry, Parviz Shahbazov made a speech at the event organised under the motto 'Energy of Turkey - Rethinking the energy industry after the pandemic.'

Highlighting that Turkey's energy ensures security, stability, development and progress by clarifying a great geography, the minister noted that the country's vision will be of strategic importance for the region in the period of postpandemic.

It was noted that, thanks to the determination of National Leader Heydar Aliyev, our independent energy policy, which began with the signing of the “Contract of the Century” in 1994, was implemented jointly with Turkey and gained global energy and communication projects such as “Baku-Tbilisi-Ceyhan”, “Baku-Tbilisi-Erzurum”, TANAP and “Southern Gas Corridor” to the Eurasian space. These projects, which are the product of joint political will, guarantee the energy security of Azerbaijan, Turkey, as well as other countries, turn our energy cooperation into a continuous process: “So far, more than 437 million tons of Azerbaijani oil has been shipped to Turkish and world markets through the Baku-Tbilisi-Ceyhan pipeline alone. 81.7 bcm of natural gas from the Shah Deniz field was transported to Turkey via gas pipelines. Since July 2018, TANAP has transported 10.6 bcm of natural gas to Turkey. During the first five months of this year, 2.2 bcm out off 4.1 billion cubic meters of gas was transported to Turkey through TANAP. During this period, TAP exported 2.3 bcm of gas to Europe. Joint energy projects turn both countries into an important global energy hubs and signify the Eurasian energy map.”

The minister noted SOCAR's participation in the oil refining-petrochemical - energy and logistics integration project in Turkey and natural gas distribution, as another contribution of the movement towards common goals. It was noted that, our joint cooperation in the field of energy including STAR Oil Refinery, Petkim and other projects, forms the pillar of Azerbaijan's investment in Turkey: “Azerbaijan's investment in Turkey has increased to 18.3 billion USD, while Turkey's investment in Azerbaijan has increased to 13 billion USD. As stated by President Ilham Aliyev, only this much investment can be made in the brotherly country. This is due to the political trust, the confidence and, of course, the brotherly trust between the two countries.” the minister added.

In his speech the minister also spoke about the planned projects in the energy sector, including cooperation in the field of renewable energy. The minister said that already it is time to make great strides in the field of green energy: “The liberated territories have been declared a “green energy” zone by the President of the country and mainly by renewable energy sources – water, solar and wind will be used there. Turkish companies are also interested in participating in renewable energy projects in liberated areas. In particular, there are opportunities for cooperation in the construction of wind power plants in Lachin and Kalbajar. Our cooperation with Turkish companies in the process of turning Karabakh into a “green energy” zone is attractive and can also be a symbol of our solidarity.”

The minister also added that the opportunities created by the restoration of our territorial integrity will further bring our countries closer to the goals of the strategic, including the energy transition process by ensuring the development of our relations on the rising line. The emergence of new realities and the transformation of the Turkish-Azerbaijani Union into a decisive factor in the region are the triumphs of the leaders of the two countries - Ilham Aliyev and Recep Tayyip Erdogan's trust, brotherhood and clear vision for the future. 

It should be noted that the event attended by the Minister of Energy and Natural Resources of Turkey Fatih Dönmez, Executive Director of International Energy Agency Fatih Birol, was continued with speeches and discussions on three panels.

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