DECLARATION OF BAKU ENERGY SUMMIT ADOPTED
The Baku Energy summit ended November 14 with the adoption of a Declaration.
In the document, the summit`s participants reiterated their adherence “to the strengthening and expanding the mutually beneficial cooperation among energy producer, transit and consumer countries and the creation of necessary favorable conditions for realization of the regional energy investment projects.”
The participants stressed “the significance of continuing the policy aimed at the diversification of routes of oil and gas supplies from the Caspian basin to the world and European markets.”
They also expressed support “to the realization of projects on the establishment of the multi-vector infrastructure of transportation and transit of the Azerbaijani natural gas to the regional and European markets to meet more fully the needs of participating states.”
The Declaration recognized “the significance of involvement of Odessa-Brody oil pipeline in the system of Euro-Asian Oil Transportation Corridor for the oil supply to European markets.”
The summit`s participants also welcomed “the initiatives on the establishment of the Caspian-Black Sea-Baltic Energy Transit Space with a view of unifying efforts of Participating States in providing the necessary conditions for reliable and secure transportation of hydrocarbons and note the importance of continuing this work.”
They said they “welcome and endorse the ongoing work in the Caspian region on creation of the system on transportation of the Kazakhstan oil via Caspian Sea and the territory of the Republic of Azerbaijan to the European and global markets.”
They also agreed “to continue the efforts for coordination of activities of the parties in realization of the joint projects directed to the strengthening of energy security of Europe, especially gas transit projects, including those across the territories of Georgia and Turkey, including ITGI, Nabucco, and others.”
Fifteen states, including Azerbaijan, Bulgaria, Hungary, Greece, Georgia, Italy, Latvia, Lithuania, Poland, Romania, USA, Turkey, Ukraine, Switzerland, Estonia, as well as the European Commission acceded to the Declaration.
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