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08.06.2011 18:00

The role of Azerbaijan in the energy security of Europe

In their speeches, Lars Troen Sorensen, President of Statoil Azerbaijan, Rashid Javanshir, President of BP Azerbaijan, and other speakers, touching upon the past development of the oil industry in Azerbaijan, proudly drew historical parallels between the past and the present in hydrocarbon fuel production and the reserves upon which the planet depends for its future. This continuously expanding conference wins ever-increasing regard and prestige every year, as its outcomes influence the energy security of Europe. The speakers particularly emphasized the ability of the forum to attract hundreds of the markets key players to Baku, repeatedly noted the rapid development of Azerbaijan, and shared plenty of their positive personal impressions about our country.

The moral achievements of mankind are undoubtedly dependent on his contribution to preserving a healthy environment. Behind the growing demands of the European community for energy, one shouldnt forget that just forced losses from gas emissions costs approximately 800 billion Euros per year.

Europe is ready to offer the Southern Corridor an infrastructure that will enable a continuously increasing demand for gas supplies to be met. According to calculations by experts, oil production and consumption decreases by 6-7 % annually and this, in its turn, influences prices in the gas market. In this context it is especially worth mentioning that diversification should be included within the framework of the overall environmental safety of any mega-project.

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