ID :
187032
Tue, 06/07/2011 - 15:02
Auther :
Shortlink :
http://m.oananews.org//node/187032
The shortlink copeid
Azerbaijani President: Investments in Azerbaijan's economy hit $97 billion since 1995
Azerbaijan, Baku, June 7 / Trend / Volume of investments in Azerbaijan's economy has amounted to $97 billion since 1995, 42 billion of which accounted for oil and gas sector, and most of them are foreign investments. Azerbaijani President Ilham Aliyev has today made this statement at the opening of the 18th International Caspian Oil and Gas, Refining & Petrochemicals Exhibition and Conference in Baku.
He said Azerbaijan has ensured its energy security and strengthens its role in ensuring other countries’ energy security.
There have never been any problems between Azerbaijan and foreign companies and the contracts have never been revised, President Aliyev said.
"The country has gained the confidence, investments are protected by the state and our policy remains unchanged in this matter," he underscored.
According to Aliyev, today Azerbaijan orients its export to gas factor, while the exiting volumes are expected to be maintained in oil production.
"We need new great markets regulated by law and which are in need for our gas," he stressed.
President Aliyev said Azerbaijan’s proven gas reserves amount to 2.2 trillion cubic meters and foreign exchange reserves hit $35 billion. He said the state’s GDP has tripled for seven years.
He stressed that attracting investments within the Contract of the Century was the first push, which was followed by great steps to deliver Azerbaijani oil to international market. "I would like particularly stress projects to build oil pipelines as a very important work that has been done," Aliyev underscored.
He said Azerbaijani oil is delivered to the world markets in three directions.
According to President Aliyev, Azerbaijan achieved versatility in this sphere and today the country's oil, transported in three directions through very reliable routes, is delivered to the world market.
Aliyev said the Baku-Tbilisi-Ceyhan oil pipeline has opened a new route and a new corridor, via which the Caspian oil was first delivered to the Mediterranean markets.
"Despite the difficult political situation in the region, investors attracted great funds, international financial institutions provided their support, and the Azerbaijani side decently fulfilled all its obligations," President Aliyev said.
He said Azerbaijan has ensured its energy security and strengthens its role in ensuring other countries’ energy security.
There have never been any problems between Azerbaijan and foreign companies and the contracts have never been revised, President Aliyev said.
"The country has gained the confidence, investments are protected by the state and our policy remains unchanged in this matter," he underscored.
According to Aliyev, today Azerbaijan orients its export to gas factor, while the exiting volumes are expected to be maintained in oil production.
"We need new great markets regulated by law and which are in need for our gas," he stressed.
President Aliyev said Azerbaijan’s proven gas reserves amount to 2.2 trillion cubic meters and foreign exchange reserves hit $35 billion. He said the state’s GDP has tripled for seven years.
He stressed that attracting investments within the Contract of the Century was the first push, which was followed by great steps to deliver Azerbaijani oil to international market. "I would like particularly stress projects to build oil pipelines as a very important work that has been done," Aliyev underscored.
He said Azerbaijani oil is delivered to the world markets in three directions.
According to President Aliyev, Azerbaijan achieved versatility in this sphere and today the country's oil, transported in three directions through very reliable routes, is delivered to the world market.
Aliyev said the Baku-Tbilisi-Ceyhan oil pipeline has opened a new route and a new corridor, via which the Caspian oil was first delivered to the Mediterranean markets.
"Despite the difficult political situation in the region, investors attracted great funds, international financial institutions provided their support, and the Azerbaijani side decently fulfilled all its obligations," President Aliyev said.
