Azerbaijan plays central part in contributing to global supply of energy

Baku, Azerbaijan, June 3 By Seymur Aliyev - Trend: Azerbaijan plays a central part in contributing to the global supply of energy, and over the next two years will become a major supplier of gas to Europe, U.S. President Barack Obama's message says. U.S. Ambassador to Azerbaijan Richard Morningstar read out this message during the opening of the 21st International Caspian Oil and Gas Exhibition in Baku on June 3. "Making the Southern Gas Corridor a reality will require hard work and close co-operation between Azerbaijan and its international partners," according to the message. "The U.S. sees the completion of this project as an important step towards expanding Europe's gas supplies, and stands ready to assist," according to the message. "Your country's role as an energy supplier will enable the development of the diversified economy, strengthen the rule of law, and raise the living standards of the Azerbaijani people," the message says. "The U.S. values the continued collaboration toward these rules." Some 402 companies from 29 countries will present their products and services at the exhibition. More than 70% of the exhibition area is occupied by companies famous around the world. They include companies that were involved in the Contract of the Century - State Oil Company of Azerbaijan Republic (SOCAR), BP, Statoil, OMV, TPAO, Lukoil and many others. Local companies comprise 35% of the total number of exhibitors, while the total growth of the exhibition has reached 10%. The Southern Gas Corridor is a project that will allow Europe to diversify its sources of hydrocarbon supply and strengthen energy security and enable Azerbaijan to get a new market in Europe. The gas to be produced within the second phase of the Azerbaijani gas condensate Shah Deniz field's development is considered as the main source for the Southern Gas Corridor. On December 17, 2013, a final investment decision was made on the Stage 2 of the 'Shah Deniz' offshore gas and condensate field's development. The gas produced at this field will first go to the European market. The gas to be produced within the second phase of the field's development will be exported to Turkey and to European markets by means of expanding the South Caucasus Pipeline and construction of the Trans-Anatolian Gas Pipeline (TANAP) and the Trans-Adriatic Pipeline (TAP). Follow us on Twitter @TRENDNewsAgency