AZERBAIJAN AND USA SIGN GRANT AGREEMENT

17.08.2007 [18:36]
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President of Azerbaijan`s State Oil Company Rovnag Abdullayev and General Counsel of the US Trade and Development Agency James Wilderotter signed Thursday in Baku a grant agreement on feasibility study of the US-Azerbaijan trans-Caspian pipeline project.

Azerbaijani Minister of Foreign Affairs Elmar Mammadyarov and US Assistant Secretary of State for Economic, Energy and Business Affairs and co-chair of the US-Azerbaijan Economic Partnership Commission Daniel Sullivan witnessed the deal with their signs.

Rovnag Abdullayev described the signing of the grant agreement as another step to continue US-Azerbaijan energy cooperation, and said that the project is aimed at transporting Central Asia’s energy resources via Azerbaijan.

Mr. Abdullayev noted Azerbaijan exports its gas and oil to European markets, which he said means that the country`s role as Europe`s partner in energy security is rapidly increasing.

James Wilderotter said the project`s estimated cost is $1.7 million.

Foreign Minister Elmar Mammadyarov described the agreement as a new phase in energy cooperation between Azerbaijan and USA.

AZERBAIJAN AND USA SIGN GRANT AGREEMENT

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