Azerbaijan Oil and Gas Industry

In 2009 two important events are coming up for Azerbaijan oil and gas industry. 16th International Caspian Oil and Gas Exhibition of oil and gas industry in Azerbaijan would be held from 2nd to 5th June 2009. This exhibition is on issues like petrochemicals and refining.

Oil and gas industry of Azerbaijan is also hosting 16th International Caspian Oil and Gas Conference from 3rd to 4th June 2009 at Hyatt Regency Conference Center. Oil and gas industry at Azerbaijan has played a major role in context of energy security in Caspian Sea region and Europe.

In 2009 two important events are coming up for Azerbaijan oil and gas industry. 16th International Caspian Oil and Gas Exhibition of oil and gas industry in Azerbaijan would be held from 2nd to 5th June 2009. This exhibition is on issues like petrochemicals and refining.

Oil and gas industry of Azerbaijan is also hosting 16th International Caspian Oil and Gas Conference from 3rd to 4th June 2009 at Hyatt Regency Conference Center. Oil and gas industry at Azerbaijan has played a major role in context of energy security in Caspian Sea region and Europe.

As per recent news of Azerbaijan oil and gas industry new oil and gas pipelines have been laid. It is being assumed that these pipelines would assist Azerbaijan to branch out its various routes of supply of oil and gas.

During January 2009 Ilham Aliyev, president of Azerbaijan signed a contract with Sergei Stanishev, prime minister of Bulgaria. As per this agreement Bulgaria would be importing natural gas amounting to a billion cubic meters from Azerbaijan. This transaction would start from 2010.

Lukoil, a well known privately held oil company from Russia, has consented to sell its 15 percent stake in an exploration block, which is located in part of Caspian Sea lying in Azerbaijan. This stake would be sold to GdF Suez, which is among major oil and gas companies from France.

As per latest reports from Azerbaijan oil and gas industry, oil supplies have yet again started to flow through oil pipeline passing through Baku, Ceyhan and Tbilisi. Latest reports from Azerbaijan oil and gas industry have confirmed that Parviz Fattah, energy minister of Iran, would be holding discussions with oil industry authorities in Azerbaijan regarding participation of Iran in Nabucco gas pipeline project, which is still in process of being conceptualized.

GNKAR, a state owned oil and gas company in Azerbaijan is supposed to provide Bulgargaz, which is a gas company of Bulgaria natural gas amounting to a billion cubic meter on a yearly basis. This deal was signed by energy ministers from both Azerbaijan and Bulgaria.

Bill Schrader, leading officer of British Petroleum in Azerbaijan has declared intentions of BP to restart pumping oil from its fields at Caspian Sea. This activity would be carried out through Baku-Supsa pipeline that extends to Georgia.