Azerbaijan`s Energy Minister made speech in China on theme ‘One Belt - One Road. Energy Partnership’


April 25, Fineko/ Delivering speech at the inauguration ceremony held in China within the framework of the 2nd international cooperation forum "One Belt – One Road", Azerbaijani Energy Minister Parviz Shahbazov estimated "One Belt - One Road. Energy Partnership" as a platform for global cooperation and noted that the new model of cooperation covers large-scale energy resources, infrastructure, technology and investment opportunities.

The minister underlined that the shortest transport route for cargo transportation from China to Europe and back is Baku-Tbilisi-Kars railway. He provided detailed information on the Baku International Sea Trade Port, with cargo handling capacity in the Caspian Sea of up to 25 million tons, other infrastructure projects ensuring the East-West and North-South transport corridors, as well as oil and gas pipelines.

Referring to the importance of the Southern Gas Corridor (a huge infrastructure project), the minister pointed out that the corridor will allow Azerbaijan to double gas exports to the Turkish market, as well as to South-Eastern Europe, to the markets of the Balkan countries, and at the next stage - to Western Europe.

At the same time, the nature of the project will allow for greater diversification in the future by increasing the number of gas sources, suppliers and consumers.

Shahbazov believes that most of $800 million invested so far by China in Azerbaijan has accounted for the oil sector that is an important indicator of energy cooperation between Azerbaijan and China.

The minister stressed that cooperation with China in the oil and gas, petrochemical, processing industry, trade in oil and petroleum products, reconstruction of power plants can be expanded with new projects, such as investment deposits, renewable energy sources and green technologies.

Document "Principles of Cooperation & Concrete Steps" was adopted at the inauguration ceremony of "One Belt - One Road. Energy Partnership”