President: Azerbaijan`s energy factor most obvious for self-sufficient economy

  04 May 2015    Read: 1165
President: Azerbaijan`s energy factor most obvious for self-sufficient economy
Attracting investments of major international energy companies to Azerbaijan, was the country`s way to develop, the country`s President Ilham Aliyev said at the 48th annual meeting of the Board of Governors of the Asian Development Bank in Baku May 4.

"Our target was to create self-sufficient economy, and for that the energy factor was the most obvious one," he said. "It attracted the most attention of our investors."

He went on to remind that in 1994 Azerbaijan started its energy strategy, which resulted in very active and broad cooperation between Azerbaijani government, its neighbors and foreign companies.

"We had huge gas reserves but we needed investments and needs to transport these reserves to the world market," Ilham Aliyev said. "We are landlocked, so we had to build pipelines."

The president went on to say that due to Azerbaijan`s energy strategy and commitment, for the first time the Caspian sea is connected with Black Sea and Mediterranean sea through crude oil pipelines.

"That was the first step of changing the energy map of this region," Ilham Aliyev said.

More about:


News Line