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Press Release

Energy security for Europe in the hands of Azerbaijan

>PRWEB.COM Newswire
>PRWEB.COM Newswire(PRWEB UK) 5 August 2014

In a recent visit to SOCAR, Swiss company AXPO highlighted the importance of Azerbaijan's role in the energy sector. AXPO have a 5% participation in the TAP Trans Adriatic Pipeline.

This project will be providing energy security to Europe by transporting natural gas from the Caspian region to across Europe, with routes from Greece and Turkey through to Albanian and the Adriatic Sea before finally reaching Southern Italy. TAP will connect with TANAP (Trans Anatolian Pipeline) at the Greek-Turkish border. Europe will expect to receive volumes of Azerbaijani gas by January 2023.

The project will be among the main topics of discussion at the 2nd Azerbaijan & Caspian Sea Oil & Gas Week 2014, 19 – 21 November at the Four Seasons Baku. This leading forum will bring together senior level delegates from Azerbaijan's growing oil and gas industry. It will assess the latest developments in upstream, midstream and downstream projects.

Representatives from National and International Oil Operators will present the future outlook for Azerbaijan's Oil and Gas industry including SOCAR Turkey, BP, TOTAL and NOCAR. The event will include a 3-day conference and workshop analysing new areas of development and investment in Azerbaijan's oil and gas projects.

Over the past 16 years Azerbaijan has seen $60 million in foreign investment for the oil and gas sector. It continues to be a leader in oil production. Shah Deniz Oil field is the largest in Azerbaijan with reserves between 1.5 – 3 billion barrels. It has put Azerbaijan as a leader in oil production. The TAP project will guarantee continued development of the national economy.

As one of the world's most ancient oil countries, Azerbaijan continues to draw upon its energy resources to increase its own economic turnover, done largely by co-operating with industry leading companies. This year presents the 20th anniversary of the "Contract of the Century", a significant point in oil strategy for Azerbaijan and the Caspian region. It involved 11 great oil companies representing 8 countries and it has had an exceptional impact on the economy.

The Azerbaijan and Caspian Sea Oil & Gas Week 2014 is now in its 2nd year and continues to bring together global leading specialists and leaders in the energy sector. Oliver Kinross are a leader in delivering summits of high quality with networking opportunities for the industry.

For further information, please contact kaltrina(at)oliverkinross(dot)com.

ENDS

Notes for editor
The 2nd Azerbaijan & Caspian Sea Oil and Gas Week 2014 (19-21 November, Four Seasons Hotel, Baku)
Summit website: www(dot)azerbaijansummit(dot)com
Venue: Four Seasons Hotel, Baku, Azerbaijan
3rd Floor, Archway House 1-3
Worship Street London,
EC2A 2AB Tel: +44 (0)207 127 4501

For all media and press enquires, please contact Kaltrina Kastrati: kaltrina(at)oliverkinross(dot)com.

Read the full story at http://www.prweb.com/releases/2014/08/prweb12070010.htm

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