9/14/2017
Minister of Energy and Natural Resources Albayrak's Contacts in Azerbaijan
The term of agreement on sharing and production of Azeri-Çırak-Güneşli (AÇG) oil reserves extended up to 2050. Minister Albayrak said, "Turkey will continue to exert utmost importance on all projects in Azerbaijan and be partner to new opportunities in the country."
In the course of visit of Minister of Energy and Natural Resources Berat Albayrak to Azerbaijan on September 14, 2017, a ceremony has been held on extending the term of Azeri-Çırak-Güneşli (AÇG) oil reserves production and sharing agreement until 2050. At the ceremony, reminding gas extracted from Shahdeniz Phase I long time ago from Southern Gas Corridor already started t flow to Turkey on Baku-Tbilisi-Erzurum Pipeline, Albayrak said, “Turkey and Azerbaijan contributed to Azerbaijan gas trade within the coverage of Shahdeniz Phase II on one hand, realized TANAP project on the other to maintain diversification of sources for both Turkey and European markets. TANAP, as the symbol of strong, efficient and “win-win” cooperation of the two countries will be inaugurated in the second half of next year as a historical cornerstone particularly for supply security of Europe". "We will continue to expand our investments in Azerbaijan" Albayrak has noted that AÇG has been the symbol of unlimited resources of Azerbaijan, contributed a lot to world markets as a reliable oil source. Turkey Petrolleri (TP), one of the partners of AÇG, increased its activities at every passing day by joining to other international projects in Azerbaijan, partnership between SOCAR and TP enhanced after TP joined in Shahdeniz project in 1996, said Albayrak, and went on, "TP has become second biggest investor of project with shares reached 19% by 10% increase in 2014 in Shahdeniz field. TP, being partner of AÇG project for 23 years, has extended its trust based partnership until 2049 under the signatures today, and more than honored to reiterate its trust on Azerbaijan once again. Turkey will continue to exert utmost importance on all projects in Azerbaijan and be partner to new opportunities in the country. We will continue to expand our investments in Azerbaijan." As it might be recalled, within the context of "Azeri, Çırak and Güneşli Fields Improvement" project, the first biggest international project in the region, first oil production planned to be started from Caspian Sea TEBA:August 18, 1997, Minister Albayrak met with President Aliyev Albayrak has also met with President İlham Aliyev in Baku. Aliyev has stated that cooperation between the two countries in the field of energy would be further enhanced. Minister Albayrak said, "Our cooperation in the field of energy constituted a model for World. We will further expand our cooperation with new projects".In the meeting, opinions exchanged on energy projects to be jointly realized.
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