Azernews.Az

By Trend

The American Chamber of Commerce in Azerbaijan (AmCham Azerbaijan) organized its monthly members’ luncheon with the kind support of BP. Its Guest Speaker – Mr. Parviz Shahbazov, Minister of Energy of the Republic of Azerbaijan – delivered a speech on recent and expected changes and reforms in the energy sector, alternative energy and investment opportunities.

Mr. Shahbazov acknowledged AmCham members constituting a substantial portion of foreign and local investment committed to the Azerbaijani economy as being instrumental in supporting Azerbaijan’s achievements and progress. The Minister noted that the energy sector is a significant factor in bilateral relations between Azerbaijan and the United States – the first ever area to attract investments from large transnational corporations including the U.S. ones. In this respect, he particularly stressed that the investments in the country are well protected and guaranteed that creates another incentive for the investments to flow into Azerbaijan. Mr. Shahbazov spoke further on the renewable energy economic potential, emphasized the role of signing the amended and restated Azeri-Chirag- Guneshli (ACG) Contract as well as the importance of the Southern Gas Corridor project for the development of the Azerbaijani economy.