The companies-members of the Caspian Integration Business Club (CIBC) today met with Natig Aliyev, the Minister of Energy and Industry, the acting co-chairman in CIBC from the side of Azerbaijan.

In the course of the meeting, Natig Aliyev spoke in detains about the Ministry’s activity saying oil production will rich 30 million tons this year in Azerbaijan and 47 million in 2008. According to him, due to implementation of the Shah Deniz project, gas production in Azerbaijan may reach nearly 30 billion cubic meters a year.

The Minister dwelt on the construction of modular electric power stations and cooperation with the international corporations and financial institutions so as to get the opportunity to generate alternative energy in Azerbaijan.

During the meeting, N. Aliyev responded to the participants’ questions and touched upon the opportunities for participating in the large-scale projects.

The meeting was attended by Telman Aliyev, the President and Chief Executive Officer of CIBC, Azerbaijani businesspersons as well as representatives of Russia, Kazakhstan, Turkey, Georgia, Ukraine, Latvia, Iran.