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05.06.2015 16:50

Caspian Oil and Gas: international recognition of Azerbaijan's energy potential

Today is the final day of the 22nd International Caspian Oil and Gas Exhibition, Caspian Oil and Gas 2015, organized by Iteca Caspian LLC and ITE Group Plc at the Baku Expo Centre. This exhibition and conference has been determining the main trends in the regionís oil and gas industry for 22 years.

Every year, the exhibition and conference brings together leaders of the highest level to discuss the key oil and gas projects in the Caspian region. The high status of the exhibition and conference is reinforced by the participation in the opening ceremony of the Azerbaijani President Ilham Aliyev, who congratulated the participants, guests and organizers. In his speech, the President stressed the importance of the oil and gas industry, the ongoing contracts of the 21st century and the implemented sector-related projects of global significance. He expressed gratitude to the organizers of the international Caspian Oil and Gas exhibition and conference for their efforts and their constant desire to improve the exhibition project.

Mr Alan Yarrow, Lord Mayor of the City of London read out the welcome letter to participants of the exhibition and the conference on behalf of the British Prime Minister, Mr David Cameron. During their speeches, Mr Janusz Pehochinski, Deputy Prime Minister of Poland and Adil Abdul-Mahdi Hassan Shuber, Iraqi Oil Minister noted the high level of development of modern Azerbaijan, stressing the importance of long-term joint industrial projects for further growth of European and Asian countries.

The VIP tour across the exhibition was led by President Ilham Aliyev, who visited the stands of the leading manufacturers, distributors and suppliers of the oil and gas industry. This year, the exhibition is involving 315 companies from 27 countries, 80% of which are well-known companies with worldwide reputations. The Czech Republicís national pavilion, which includes 25 oil and gas companies from the Czech Republic is being presented at the Azerbaijani exhibition for the first time. Italy will also have its debut national pavilion at the exhibition. The exposition consists of the following thematic sections: innovative technologies in the field of oil production and transportation of energy resources, providing systems for storage of oil and gas and the existing and future oil and gas projects in the region.

Caspian Oil and Gas emphasizes the global recognition of Azerbaijanís energy potential, providing not only a communication platform, but also a meeting place for the entire industry. Participation in the exhibition from key representatives of the oil and gas industry provides ideal conditions for holding discussions and reaching decisions on various issues. The current exhibition has once again demonstrated the growth of Azerbaijan's economic achievements to the world community, as well the stability of its industrial development. It has also emphasized the magnitude of projects of the 21st century and touched on issues of energy security in Europe. Almost all of the guests who came to the exhibition expressed their desire to find a decent niche in the local market and actively contribute to the local economy.

The popularization of the countryís cultural and spiritual potential is of special importance against the backdrop of this industryís successful event, as hundreds of foreign visitors are interested to get to know the history of Azerbaijan, its national music, folk crafts and mentality of Bakuvians. This was repeatedly stated by representatives of Azerbaijani companies and agencies who had business contacts with foreign delegates in their short interviews.

Typically, the business interests of the majority of foreign participants of the Caspian Oil and Gas exhibition are eventually converted into cultural investments as part of their contribution to national growth. As an example, BP sponsored the art exhibition by Mrs Irina Eldarova, entitled ĎNobel Brothers and Baku oil. The Prizeí.

The International Caspian Oil and Gas Conference, held at the JW Marriott Absheron Baku Hotel, was attended by over 500 delegates from 30 countries and was an important part of the exhibition and its business program.

The event has been held in conjunction with the 5th Anniversary Caspian International Power and Alternative Energy Exhibition, Caspian Power 2015 and this professional alliance enhances mutual efficiency.

The Caspian Oil and Gas project is provided with invaluable support from the Ministry of Energy of the Republic of Azerbaijan and the State Oil Company of the Azerbaijan Republic (SOCAR). The exhibition is also supported by the Azerbaijan Export and Investment Promotion Foundation and the National Confederation of Entrepreneursí (Employers') Organizations of the Republic of Azerbaijan (ASK). The Caspian Oil and Gas exhibition has been awarded official recognition from the international exhibition community - UFI (The Global Association of the Exhibition Industry) for 10 consecutive years.

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