Co­op­er­a­tion in hy­dro­car­bon trade, ex­ports in Caspian re­gion and Cen­tral Asia in fo­cus of SOCAR fo­rum

Azer News - - Front Page - By Kamila Aliyeva

The sec­ond SOCAR In­ter­na­tional Caspian and Cen­tral Asia Down­stream Fo­rum – Trad­ing, Lo­gis­tics, Re­fin­ing, Petro­chem­i­cals kicked off in Baku on April 25.

The fo­rum or­ga­nized by the Baku Higher Oil School (BHOS) in col­lab­o­ra­tion with British com­pany Con­fi­dence Cap­i­tal Ltd and pow­ered by SOCAR is a key event in the Caspian oil cal­en­dar cover­ing the lat­est trends in hy­dro­car­bon ex­ports from the re­gion, pro­vid­ing a unique di­gest of trad­ing in­for­ma­tion for strate­gic de­ci­sions and day-to-day op­er­a­tions.

BHOS Rec­tor El­mar Gasi­mov, open­ing the fo­rum’s first ses­sion, em­pha­sized the event’s great im­por­tance to the coun­try, say­ing it fa­cil­i­tates build­ing busi­ness ties be­tween pro­fes­sion­als from across the globe and ef­fec­tively ad­vo­cates the oil strat­egy im­ple­mented un­der the aus­pices of Pres­i­dent Il­ham Aliyev, Az­er­tac re­ported.

Addressing the con­fer­ence, Deputy Chair­man of the Milli Ma­jlis, Chair­man of the Par­lia­men­tary Com­mit­tee on Nat­u­ral Re­sources, En­ergy and En­vi­ron­ment Valeh Alas­garov hailed the de­vel­op­ment of the coun­try’s fuel and en­ergy sec­tor, stress­ing that Azer­bai­jan is an ex­am­ple for the Caspian coun­tries in sup­ply­ing en­ergy re­sources to world mar­kets.

He noted that Azer­bai­jan has al­ways been a sup­porter of equal co­op­er­a­tion with the Caspian coun­tries and tried to build this co­op­er­a­tion based on the in­ter­na­tional ex­pe­ri­ence.

“Azer­bai­jan is the ini­tia­tor of the de­lim­i­ta­tion of the Caspian Sea bot­tom and con­trib­uted to the so­lu­tion of this is­sue within the frame­work of in­ter­na­tional law. Azer­bai­jan has signed rel­e­vant agree­ments with Rus­sia and Kaza­khstan in this area and we hope that other coun­tries will also join these agree­ments,” he added.

En­ergy Min­is­ter Natig Aliyev, in turn, spoke about the as­pects of the mod­ern-day global en­ergy map.

To­day the Caspian re­gion, thanks to its enor­mous po­ten­tial, ac­quires spe­cial sig­nif­i­cance in terms of global en­ergy security, the min­is­ter said, fur­ther stress­ing Azer­bai­jan’s spe­cial role in pro­mot­ing Europe’s en­ergy security.

“The main fea­ture of the Caspian re­gion is the ex­pan­sion of mu­tu­ally ben­e­fi­cial co­op­er­a­tion in the field of trade in en­ergy re­sources,” he said.

The min­is­ter pointed to enor­mous po­ten­tial of en­ergy ex­ports from the Caspian re­gion in the near fu­ture, not­ing that the prospects can be in­creased through the im­ple­men­ta­tion of en­ergy ef­fi­ciency and re­source-sav­ing pro­grams in all spheres of the econ­omy, in­clud­ing the pro­duc­tion and con­sump­tion of oil and gas.

"To­day, our re­gion, and es­pe­cially Azer­bai­jan, which is the most im­por­tant trans­port hub in the Eurasian space, to­gether with its strate­gic part­ners in the Caspian, Black Sea and Mediter­ranean re­gions, is be­com­ing quite a sig­nif­i­cant driver of global de­vel­op­ment and co­op­er­a­tion,” the min­is­ter said.

He also touched upon the ques­tions of im­ple­men­ta­tion and prospects of grand projects in lo­gis­tics, re­fin­ing and petro­chem­istry.

SOCAR's First Vice Pres­i­dent for Ge­ol­ogy, Geo­physics and Field De­vel­op­ment Khosh­bakht Yusifzade, in his turn, pro­vided an in­sight into the com­pany’s strat­egy and plans.

As of April 1, some 1,971 bil­lion tons of oil was pro­duced in Azer­bai­jan, ac­cord­ing to Yusifzade.

“Of this vol­ume, 971 mil­lion tons of oil was pro­duced on­shore and one bil­lion tons was pro­duced off­shore. It is needed to pro­duce ad­di­tional 29 mil­lion tons to bring the pro­duc­tion vol­ume to two bil­lion tons. Ac­cord­ing to the cal­cu­la­tions, we will be able to achieve this Nov. 25, 2017," he said.

Fluc­tu­a­tions in oil prices don’t af­fect the in­ter­est of for­eign in­vestors in the oil and gas sec­tor of Azer­bai­jan, said Vi­taliy Bay­lar­bayov, deputy vi­cepres­i­dent of SOCAR for in­vest­ments and mar­ket­ing.

“De­spite the fluc­tu­a­tions in oil prices, our projects con­tinue to be sig­nif­i­cant for for­eign in­vestors,” said Bay­lar­bayov.

He ex­pressed con­fi­dence that in the fu­ture, di­rect for­eign in­vest­ment in Azer­bai­jan’s oil and gas sec­tor will fur­ther grow as a re­sult of im­ple­men­ta­tion of the sec­ond and third stages of de­vel­op­ment of the Shah Deniz field, as well as the con­tin­u­a­tion of de­vel­op­ment of the Az­eri-Chi­rag-Gu­nashli oil and gas field.

Speak­ing of the strate­gic course of de­vel­op­ment for Azer­bai­jan’s petro­chem­i­cal sec­tor, Chair­man of Az­erkhimiya Su­per­vi­sory Coun­cil Mukhtar Babayev in­formed the ses­sion at­ten­dees of the projects cur­rently un­der­way, as well as of fu­ture projects in this field.

He noted that in the com­ing year, 2000 tons of car­bamide will be pro­duced in Azer­bai­jan daily.

"In ad­di­tion, in 2018, the daily pro­duc­tion of polypropy­lene will be brought up to 500 tons and poly­eth­yl­ene - 600 tons," he added.

As many as 80 per­cent of polypropy­lene and car­bamide pro­duced in Azer­bai­jan will be ex­ported, ac­cord­ing to Babayev.

The report from Di­rec­tor Gen­eral of Baku in­ter­na­tional Sea Trade Port Taleh Ziyadov fo­cused on the op­er­a­tions and prospects of the Caspian’s largest lo­gis­tics cen­ter. He also re­marked on the spe­cial role of the re­cently es­tab­lished free trade zone in the Alyat vil­lage in the de­vel­op­ment of the coun­try’s oil sec­tor, and an­nounced that it al­lowed sig­nif­i­cantly in­creas­ing cargo trade turnover.

The three-day fo­rum will fea­ture eight ple­nary ses­sions.

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