U.S. President Obama and British Prime Minister Cameron Praise Azerbaijan's Role in Global Supply of Energy

BAKU, Azerbaijan, June 6, 2016 /PRNewswire/ --

In a letter to delegates at the 23^rd International Caspian Oil & Gas Exhibition and Conference in Baku, U.S. President Barack Obama and British Prime Minister David Cameron praised Azerbaijan's role in the global supply of energy. Both of them further applauded Azerbaijan's efforts to develop the Southern Gas Corridor project, which stretches from Baku to the coast of Italy. "The Southern Gas Corridor will play an important role in diversifying the EU's gas market and strengthening European energy security," Cameron said.

The largest event in the energy sector in the Caspian region brought together more than 400 industry leaders from more than 30 countries to discuss key projects and identify the main trends in the oil and gas field.

In his message of congratulations to event participants, Obama noted that Azerbaijan and its partners have achieved significant milestones in making the Southern Gas Corridor a reality over the past year and that the "United States stands ready to assist and continues to underscore the importance with our international partners."

"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," Obama said. He further encouraged Azerbaijan to achieve its full potential 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," Obama said in his message.

In his congratulatory letter, Cameron welcomed "the continued strong bilateral relationship" between Azerbaijan and the UK, noting that the country's energy resources "will play a vital role in the European and world economy and in the energy security of Europe."

Meanwhile, Azerbaijani President Ilham Aliyev stressed Azerbaijan's leadership and active involvement in the implementation of large-scale transnational projects, noting that the Southern Gas Corridor was progressing on schedule. He further stated that 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," he said.

The Azerbaijani President also outlined the country's energy policy and noted that it contributed to developing cooperation and ensuring stability in the region and beyond.