BP Regional President names factors to turn Azerbaijan into a regional energy hub
“Does Azerbaijan has a potential to grow as a regional energy hub in the future? The answer is “yes”. I’m, very pleased that BP plays a great role in this process”, BP Regional President for Azerbaijan, Georgia and Turkey Gary Jones said at the Argus Azerbaijan International Petroleum Summit 2017.
“Let me give you three examples. First, the final investment decision made by our partners in BP-SOCAR-Shahdeniz consortium in December 2013 paved the way for construction of the Southern Gas Corridor. The cost of total investment portfolio is $40 billion. The project will transport gas reserves in the Caspian Sea to the European market and direct contact will be established between these markets for the first time. Second, the Contract of the Century signed by BP and its partners recently will lead to a new wave of large amount of investments in Azerbaijan’s oil infrastructure. Third, the new oil and gas fields in Absheron peninsula may open a new page and be a source for regional oil and gas infrastructure. In short, Azerbaijan has this potential”, he said.