Azerbaijani Minister Names Volume Of Investments In Local Oil, Gas Sector For Past 27 Years

(MENAFN– Trend News Agency) BAKU, Azerbaijan, February 22 . A total of $89
billion of foreign investments have been made in the oil and gas
sector of Azerbaijan for the past 27 years, Azerbaijani Energy
Minister Parviz Shahbazov said during the event ‘National leader
Heydar Aliyev is the author of Azerbaijan’s independent energy
policy’, trend reports.

According to him, one of the main contributions of Heydar Aliyev
to the long-term energy policy of Azerbaijan was the signing of an
agreement on the Shah Deniz gas field in 1996.

‘Thanks to this agreement, the construction of the
Baku-Tbilisi-Erzurum gas pipeline and the creation of the Southern
Gas Corridor became possible. Today, each of these projects is an
important source of energy security, the economic success of our
country and our partners,” Shahbazov noted.

“About 569 million tons of oil have been produced in Azerbaijan,
40.6 million tons of condensate, about 390 billion cubic meters of
gas worth more than $170 billion,” he stressed.

“The Baku-Supsa pipeline transported 99.4 million tons of oil.
Of the total volume of oil transported through the
Baku-Tbilisi-Ceyhan pipeline, 477.5 million tons belonged to
Azerbaijan, and 55.4 million tons to other countries,’ he also

Will be updated


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