Energy security for Europe in the hands of Azerbaijan

The Azerbaijan and Caspian Sea Oil & Gas Week 2014 is now in its 2nd year and continues to bring together global leading specialists and leaders in the energy sector. Oliver Kinross are a leader in delivering summits of high quality with networking opportunities for the industry.

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(PRWEB UK) 6 August 2014

Oliver Kinross released a press release yesterday (9.05 am GMT). This press release contained figures which have since been corrected. Oliver Kinross would like to re release this again with the correct figures included.

The Trans Adriatic Pipeline (TAP) project is significant to Europe's energy security. This project will be providing energy security to Europe by transporting natural gas from the Shah Deniz II field in Azerbaijan to Europe. TAP will connect with TANAP (Trans Anatolian Pipeline) at the Greek-Turkish border, crossing Greece, Albania and the Adriatic Sea before finally reaching Southern Italy. With first gas sales from Shah Deniz II to Georgia and Turkey targeted for late 2018, first deliveries to Europe will follow approximately a year later.

The project will be among the main topics of discussion at the 2nd Azerbaijan & Caspian Sea Oil & Gas Week 2014, 19 – 21 November at the Four Seasons, Baku. This leading forum will bring together senior level delegates from Azerbaijan's growing oil and gas industry. It will assess the latest developments in upstream, midstream and downstream projects.

Representatives from National and International Oil Operators will examine the future outlook for Azerbaijan's Oil and Gas industry including SOCAR Turkey, BP, TOTAL and NOCAR. The event will include a 3 day conference and workshop analysing new areas of development and investment in Azerbaijan's oil and gas projects.

Over the past 16 years Azerbaijan has seen $60 million in foreign investment in the oil and gas sector. It continues to be a leader in oil production. The Shah Deniz Oil field is the largest in Azerbaijan with reserves between 1.5 – 3 billion barrels. It has positioned Azerbaijan as a leader in oil production. The TAP project will guarantee continued development of the national economy.

As one of the world's most ancient oil countries, Azerbaijan continues to draw upon its energy resources to increase its own economic turnover, done largely by co-operating with industry leading companies. This year presents the 20th anniversary of the “Contract of the Century”; a significant point in oil strategy for Azerbaijan and the Caspian region. It involved 11 great oil companies representing 8 countries and it has had an exceptional impact on the economy.

The Azerbaijan and Caspian Sea Oil & Gas Week 2014 is now in its 2nd year and continues to bring together global leading specialists and leaders in the energy sector. Oliver Kinross are a leader in delivering summits of high quality with networking opportunities for the industry.

For further information please contact: kaltrina(at)oliverkinross(dot)com.

Notes for editor:
The 2nd Azerbaijan & Caspian Sea Oil and Gas Week 2014 (19-21 November, Four Seasons Hotel, Baku)
Summit website: www(dot)azerbaijansummit(dot)com
Venue: Four Seasons Hotel, Baku, Azerbaijan
3rd Floor, Archway House 1-3
Worship Street London,
EC2A 2AB Tel: +44 (0)207 127 4501


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