ECONOMY


Azerbaijani President: We don’t feel any obstacles in terms of the development of our energy projects

Baku, December 26, AZERTAC

“We have never felt any pressure in terms of the development of our energy projects. I would even say the opposite. Since Azerbaijani gas will, to a certain extent, ensure the energy security of European countries, we have felt the support of the European Union,” said President Ilham Aliyev as he was interviewed by the Russian Rossiya-24 TV channel. “Meetings of the Advisory Council on the implementation of the Southern Gas Corridor project are held in Baku every year. Since several EU member-countries are involved in this project, the European Union is always represented at meetings of the Advisory Council at a high level. We are implementing our energy projects because we need them, because we are a country rich in oil and gas reserves. We need to sell them and earn money. Therefore, we have attracted investor companies, so we attracted banks, we are building gas and oil pipelines. The Southern Gas Corridor alone costs about $40 billion. Most of this investment is borrowed capital. Therefore, of course, active cooperation with international financial institutions is an important factor in this project.”

The head of state said: “Therefore, in this context, in terms of energy projects, we do not feel any obstacles. On the other hand, you are quite right that the significance and role of Azerbaijan not only in the energy market but also in general, in geopolitical terms, is growing.” “The country is becoming more developed, has more plans to assert itself in the region. And in proportion to our development and to how we conduct independent policies, pressure on us is growing. But it is not connected with energy factors, it is connected with attempts to involve us in some adventures that are absolutely alien for our people and our country,” the Azerbaijani President added.

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