Azernews.Az

President Ilham Aliyev told an annual oil and gas show in Baku on Tuesday that Azerbaijan is independent in exporting its energy resources, opposing the use of the ``energy factor`` as a tool for political aims.

``The country is not dependent on a single transport corridor for delivering its oil to world markets. Azerbaijan has seven pipelines transporting oil and gas by different routes,`` President Aliyev said.

``We don`t think it`s right to use the energy factor for political aims. We have lent a helping hand at a time some countries faced challenging times. We believe that Azerbaijan could set an example in this regard. And, as a state, we primarily ponder Azerbaijan`s national interests,`` Aliyev said.

The president said the oil and gas factor ``has a say`` in strengthening the resource-rich South Caucasus republic`s relations with the world community, adding that Azerbaijani oil meets as much as 25 to 35 percent of the needs of some countries.

Aliyev went on to say that $50 billion has so far been invested in Azerbaijan`s oil and gas sector. The total amount of investments in the domestic economy since 1995 is $120 billion. The country`s currency reserves exceed $40 billion.

According to the president, the Azerbaijani state energy firm Socar has now turned into an oil giant of global scale. Also, Azerbaijan has ensured the transparency of oil revenues due to the operation of the state oil fund Sofar, Aliyev said.

He said Azerbaijan`s economy and industrial production have tripled in the past eight years. Two major gas fields discovered in the past two years hold estimated reserves of up to 700 billion cubic meters of gas. The country`s proven gas reserves total 2.6 trillion cubic meters.

``Azerbaijan has reached a crucial stage in its gas sector,`` Aliyev said. ``The realization of the Shah Deniz-2 project [the second stage of developing the Shah Deniz gas-condensate field in the Caspian Sea] is now approaching. We can say that the country is ready for a long-term gas strategy.``

The president said there are countries in the world possessing more oil and gas whose economic development is one-sided. In Azerbaijan, however, the oil revenue windfall is giving an impetus to the development of the non-oil economy. In the past eight years, 1 million jobs have been opened in Azerbaijan`s non-oil sector.

``The country`s energy reserves are fully benefiting the people,`` Aliyev said. ``All this has been accomplished despite pressure as a result of successful oil policy reforms.``

After the official opening, President Aliyev toured the exhibition.

The 19th Caspian Oil and Gas Exhibition and Conference, the Caspian region`s largest oil and gas show, which brings industry majors from around the world to the Azerbaijani capital every year, opened on Tuesday at the Baku Expo Centre. About 300 companies from 35 countries are participating in this year`s event, including national groups from the UK, Germany, China and Russia. 30% of this year`s exhibitors are first-time participants, including a host of Vietnamese companies. 60% of the exhibition space is taken up by international exhibitors.

Exhibitors showcase the latest developments in oil and gas equipment manufacturing and innovative extraction, transportation technology and storage systems. Current and future local and international oil and gas projects are also being presented.

The four-day exhibition was organized by British ITE Group Plc and Iteca Caspian, its partner in the South Caucasus region. The event is supported by Azerbaijan`s Ministry of Industry and Energy and the State Oil Company of the Azerbaijan Republic (SOCAR).

An annual oil and gas conference will also take place alongside the exhibition on Wednesday. 550 delegates are expected to attend. Key topics will include regional cooperation, ensuring energy supply, the development of local and international oil and gas infrastructure projects as well as alternative energy. Senior managers from SOCAR, BP, RWE and OMV are among the conference speakers.

The opening of the exhibition began with a welcome from Sir Andrew Wood, Senior Advisor to ITE Group Plc. Wood thanked the president of Azerbaijan for his support of the Caspian oil and gas event.

US Charge d`Affaires in Baku Adam Sterling read out a welcome letter from US President Barack Obama, while British Ambassador to Azerbaijan Peter Bateman - a message from Prime Minister David Cameron.

President Obama wrote in his message that the U.S. and Azerbaijan will continue further cooperation in the energy sector.

``This year has special significance as it marks the 20th anniversary of U.S.-Azerbaijan diplomatic relations,`` the US president`s letter to his Azerbaijani counterpart said. ``I congratulate you and the Azerbaijani people on the opening of an extremely important annual exhibition and conference. I look forward to further cooperation between the U.S. and Azerbaijan, aimed at achieving our common goals for energy diversification and security, as well as regional stability.``

The message says further that the agreement on the gas transit project TANAP between Azerbaijan and Turkey paved the way for Azerbaijani gas to Europe and also established an important precedent for Azerbaijan in terms of enhancing its role in ensuring European energy security.

In the future, the U.S. expects to successfully develop the Shah Deniz field, when the Azerbaijani government and its partners choose the means of delivering gas to European markets, the letter said.

``We will also continue our partnership as far as strengthening the ties between Azerbaijan and Europe via the Southern Corridor, through the use of energy resources, to diversify the economy, and in connection with Azerbaijan`s actions and great commitments,`` the letter said.

The British prime minister, in his message, highlighted Azerbaijan`s vital role in the world economy.

``Azerbaijan is at the heart of a region whose energy resources will play a vital role in the world economy in the years to come,`` Cameron wrote. ``Azerbaijan has been playing a central and active part in unlocking those resources for the benefit of all. The landmark Inter Governmental Agreement negotiated late last year, coupled with the announcement of work towards the Trans Anatolian Pipeline for the transport of Shah Deniz gas to Europe, will help make the Southern Gas Corridor a reality. This marks a step change in the diversification of European energy supplies. It is also important to enabling development of the region`s hydrocarbon reserves. We are delighted that BP, the largest single foreign investor in Azerbaijan, has been so closely involved.

``There is still much hard work to do on this project, and many others waiting in the wings. I wish all those involved success in their efforts to provide a stable source of energy for the future,`` Cameron said.