Baku, February 14 (AZERTAC). Azerbaijani President Ilham Aliyev has said the country`s oil accounts for 30% or 40 % of energy resources of some European countries.

Speaking to a conference on results of the fourth year of implementation of the “State Program on socio-economic development of Azerbaijan’s regions in 2009-2013”, the Head of State noted: “Azerbaijan-initiated transport and energy projects ensure not only the region’s interests, but also the interests of the entire European continent.”

“Azerbaijan ensures energy security of some European countries with its oil resources, and we have already become an invaluable energy partner.”

“The TANAP project, which is also our initiative, will ensure the transportation of Azerbaijan’s gas to various countries, and we will be an irreplaceable partner in settling energy security issues in the field of gas too,” the President added.