Online news sponsored by
On May 31st, the 24th International Caspian Oil & Gas Exhibition and Conference, Caspian Oil & Gas 2017 started its work at Baku Expo Centre. The largest oil and gas event of the Caspian region, which was organized by ITE Group plc and Iteca Caspian, has brought together 289 companies from 30 countries. On behalf of the Caspian Oil & Gas Organizing Committee, Sir Andrew Wood GCMG, Senior Advisor of ITE Group Plc, UK, wished the exhibition and conference participants every success.
The President of the Republic of Azerbaijan Mr Ilham Aliyev, who traditionally chairs the opening ceremony, congratulated participants, guests and the Organizers on this significant event. In his speech, the head of state underlined the role of the energy complex in the country's economy and assessed the relevance and popularity of the oil & gas exhibition which for over twenty years remains the flagship of the most important events of the industry. According to the head of state, the holding of the Caspian Oil & Gas exhibition in Azerbaijan is a significant event. It is the 24th event in a row which is a bright indicator. The event exposition sows a steady growth. Mr President recalled that the holding of the first Caspian Oil & Gas exhibition was a very important event from the point of view of familiarizing the world community with Azerbaijan as an oil power. Ilham Aliyev expressed gratitude to the Organizers of the exhibition which has been cooperating with Azerbaijan for 24 years and has contributed to the development of the oil and gas industry, while demonstrating the country's industrial achievements on the world stage.
Mr President announced the total amount of investments in the Southern Gas Corridor (SGC) project - $40 billion, and talked about the implementation of the largest energy projects, recalled the importance of diversifying oil and gas supplies, as today Azerbaijan is the only new source of hydrocarbon raw materials for Europe.
The head of state stressed that during the period of its independence, within the framework of the implementation of oil and gas projects, Azerbaijan has succeeded in creating a successful format of cooperation with foreign investors, which today has spread to other sectors of the economy.
The Southern Gas Corridor project is also supported by the United States. Such words are quoted in the letter of US President Donald Trump to the participants of the exhibition, read by the Deputy Assistant Secretary for Energy Diplomacy in the Department of State's Bureau of Energy Resources Ms Robin Dunnigan. It is important that the United States attach great importance to the projects with Azerbaijan, support the development of the country and its efforts aimed at ensuring energy security.
“- We expect that in 2020, Europe will receive Azerbaijani gas through the Southern Gas Corridor,” said Mr Maroš Šefčovič, Vice-President of European Commission for Energy Union in his video-message. In general, he believes that SGC can play a big role in supplying “blue-sky fuel” from Central Asia.
The VIP tour of Caspian Oil & Gas was a testament to the demonstration of advanced technologies in the field of oil and gas production and refining, transportation and logistics, services, the traditional center for discussing oil and gas market development trends, and potential opportunities for cooperation in the Caspian region.
Today, Caspian Oil & Gas demonstrates the most ambitious achievements of Azerbaijan in the field of oil production, scientific and technical research, the implementation of major projects. The current exhibition reflects the natural potential of the whole country; many stands convey the atmosphere of the historical transformations of Azerbaijan.
The expositions are attracted by the main thematic sections - innovative technologies in the field of oil production and transportation of energy resources, provision of oil and gas storage systems, existing and future oil and gas projects in the region. The companies demonstrate a wide range of equipment, services, innovative technologies, platforms and floating drilling rigs, laying pipes and providing pipeline security systems, and services.
It should be noted that the partners of ITE Group plc - ITE LLC Moscow (Russia), EUF (Turkey), GIMA (Germany), ITE China (China) and ITE Gulf (UAE) – are actively attracting international companies to participate in the Azerbaijan exhibitions. Traditionally, for many years, SOCAR has been the platinum sponsor of the Caspian Oil & Gas exhibition. The golden sponsor of the event is BP and the silver sponsor is Turkiye Petrolleri.