From June 1-4 the Azerbaijani capital of Baku hosted the 23rd International Caspian Oil & Gas Exhibition and Conference.

The largest event in the energy sector in the Caspian region, the exhibition and conference has been identifying the main trends in the oil and gas industry in the region. Caspian Oil and Gas is not just a platform for communication, but a meeting place for the whole industry, annually bringing together senior industry executives to discuss key oil and gas projects in the Caspian region.

Caspian Oil&Gas 2016 brought together 240 companies from 30 countries including Azerbaijan, Belgium, Spain, Italy, Kazakhstan, China, the Netherlands, Poland, Portugal and others. Exhibiting companies present a wide range of equipment, services, innovative technologies for oil production and transporting energy resources, storage systems for oil and gas, platforms and floating drilling rigs, pipe laying and pipe security systems, and services. The Czech Republic, Italy and Germany arranged national pavilions at the event. This year`s newcomers included companies from the UK, Portugal, Romania and other countries.

Around 400 delegates from more than 30 countries attended the 23rd Caspian Oil & Gas Exhibition and Conference.

In his opening remarks at the exhibition, Azerbaijani President Ilham Aliyev noted that the 23rd International Caspian Oil & Gas Exhibition and Conference “is a very important and prestigious event both for Azerbaijan and for the whole world”. The President said that Azerbaijan demonstrated its oil potential to the world at the first Caspian Oil & Gas Exhibition in 1994. Stressing Azerbaijan’s leadership and active involvement in the implementation of large-scale transnational projects, the head of state said that Azerbaijan had covered “a successful and glorious path in all spheres, including the oil and gas industry and all our objectives have been met”.

Noting that the implementation of the Southern Gas Corridor was progressing on schedule, President Ilham Aliyev said seven countries had already become involved in the Southern Gas Corridor that stretched from Baku to the coast of Italy. He described the project as “an economic and security” one. The President said proven gas reserves in Azerbaijan constituted 2.6 trillion cubic metres. “As a result of development of new fields gas production in Azerbaijan will increase even more.” The Azerbaijani President especially outlined the country’s energy policy, and noted that it contributed to developing cooperation and ensuring stability in the region and beyond

In his message of congratulations to the event participants, President of the United States of America Barack Obama hailed Azerbaijan`s role in the global supply of energy. “Azerbaijan continues to play a critical role in the global supply of energy and is a reliable partner in our shared goal of increasing regional supply diversification, market competition, and energy security. Over the past year, Azerbaijan and its partners have achieved significant milestones in making the Southern Gas Corridor a reality. Continued cooperation between Azerbaijan and its international partners will ensure the completion of this significant project, and the United States stands ready to assist and continues to underscore the importance of the Southern Gas Corridor with our international partners,” he said. The U.S. leader applauded the Azerbaijani President`s efforts to develop the Southern Gas Corridor project and encouraged his continued steps to help achieve Azerbaijan’s full potential, including by promoting a diversified economy, enhancing the investment climate, strengthening accountability and the rule of law, and boosting the standard of living of the Azerbaijani people. “Azerbaijan continues to have a committed partner in the United States,” Barack Obama said in his message.

In his congratulatory letter, British Prime Minister David Cameron welcomed “the continued strong bilateral relationship” between Azerbaijan and the UK. He noted that Azerbaijan’s energy resources “will play a vital role in the European and world economy and in the energy security of Europe.” “The Southern Gas Corridor will play an important role in diversifying the EU’s gas market and strengthening European energy security.” He congratulated the Government of Azerbaijan on its role in the development of the Southern Gas Corridor and welcomed the recent ground breaking ceremony for the Trans Adriatic Pipeline on May 17. “This is another significant development in delivering the Southern Gas Corridor on schedule,” David Cameron said in his message.