ID :
186910
Tue, 06/07/2011 - 10:57
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Shortlink :
https://oananews.org//node/186910
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Azerbaijani President: Investments in Azerbaijan's economy hit $97 billion since 1995
Azerbaijan, Baku, June 7 / Trend /
Volume of investments in Azerbaijan's economy has amounted to $97 billion since 1995, 42 billion of which accounted for oil and gas sector, and most of them are foreign investments. Azerbaijani President Ilham Aliyev has today made this statement at the opening of the 18th International Caspian Oil and Gas, Refining & Petrochemicals Exhibition and Conference in Baku.
He said Azerbaijan has ensured its energy security and strengthens its role in ensuring other countries’ energy security.
There have never been any problems between Azerbaijan and foreign companies and the contracts have never been revised, President Aliyev said.
"The country has gained the confidence, investments are protected by the state and our policy remains unchanged in this matter," he underscored.
According to Aliyev, today Azerbaijan orients its export to gas factor, while the exiting volumes are expected to be maintained in oil production.
"We need new great markets regulated by law and which are in need for our gas," he stressed.
President Aliyev said Azerbaijan’s proven gas reserves amount to 2.2 trillion cubic meters and foreign exchange reserves hit $35 billion. He said the state’s GDP has tripled for seven years.
Volume of investments in Azerbaijan's economy has amounted to $97 billion since 1995, 42 billion of which accounted for oil and gas sector, and most of them are foreign investments. Azerbaijani President Ilham Aliyev has today made this statement at the opening of the 18th International Caspian Oil and Gas, Refining & Petrochemicals Exhibition and Conference in Baku.
He said Azerbaijan has ensured its energy security and strengthens its role in ensuring other countries’ energy security.
There have never been any problems between Azerbaijan and foreign companies and the contracts have never been revised, President Aliyev said.
"The country has gained the confidence, investments are protected by the state and our policy remains unchanged in this matter," he underscored.
According to Aliyev, today Azerbaijan orients its export to gas factor, while the exiting volumes are expected to be maintained in oil production.
"We need new great markets regulated by law and which are in need for our gas," he stressed.
President Aliyev said Azerbaijan’s proven gas reserves amount to 2.2 trillion cubic meters and foreign exchange reserves hit $35 billion. He said the state’s GDP has tripled for seven years.
