The Republic of Azerbaijan welcomes the document on Global energy issues adopted by the July 15-17, 2006 Summit of the G8 in Saint-Petersburg, according to press service of the Foreign Ministry.

Global Energy Security action plan, contained in that document is a constructive and important mechanism, a strategic program of a kind, which allows to settle many issues in the field of global energy security. Provisions on safeguarding effective access to the markets, diversification of supply of and demand for the energy products and sources, as well as energy products transportation routes and means, implementation and exchange of the environmentally clean technologies. Azerbaijan especially welcomes the obligations of the G8 states to provide effective, reliable and environmentally safe energy supply, which is critical for improving quality of life of the world’s nations.

Azerbaijan is of the same opinion with the G8 members, that under the conditions of growing interdependence it is imperative to develop partner relations among all the interested parties. In this regard, Azerbaijan underscores the significance of the outstanding success achieved in increasing the hydrocarbon production in the Caspian Sea, and in establishing hydrocarbon extraction and production system, as well as world class transportation infrastructure, specifically of the Baku-Tbilisi-Ceyhan Heydar Aliyev oil pipeline. Discussion of the energy security issues at the Summit practically coincided with the inauguration of the oil pipeline, which plays a strategic role in developing and effectively transporting to the world markets Caspian oil deposits within the East-West energy corridor, as well as creates sound basis economic growth, regional stability and international energy security. Azerbaijan also expresses its adherence to further strengthening and broadening of the East-West energy corridor and, along with its partners looks forward to the successful completion of the South Caucasus (Baku-Tbilisi-Erzurum) gas pipeline. With the inauguration of the Baku-Tbilisi-Akhalkalaki-Kars railway in the near future an opportunity will open to transport energy products along this route as well.

Azerbaijan joins common efforts which are manifested in the G8 call and is determined to contribute into strengthening global energy security through increasing transparency, predictability and stability of the global energy markets, improvement of the investment climate in the energy sector, providing physical security of the vitally important energy infrastructure, resolution of the climate change and sustainable development issues.