Greece, Azerbaijan sign energy cooperation memorandum

[Ellinas]

Visiting Greek Development Minister Dimitris Sioufas and Azeri Economic Development Minister Heydar Babayev signed in Baku on Thursday a memorandum of cooperation in the sectors of natural gas and oil.

Sioufas, who arrived in Baku for an official visit on Wednesday accompanied by his ministry's SG Nikos Stefanou, also met with Azeri President Ilham Aliyev.

"The signing of a Memorandum of Cooperation in the energy sector between the governments of the Republic of Azerbaijan and Greece constitutes a landmark in the promotion of political, economic and trade relations between the two countries," Sioufas said after the signing of the memorandum, while also referring to a "new page in economic and energy relations of the two countries."

Azerbaijan is a producer country of oil and natural gas with important assessed reserves, able to cover part of the continuously increasing demands of natural gas in big European markets, Sioufas said, noting that Greece can function as a corridor for the transport of gas from the Caspian region to Italy and to European markets in general.

With the cooperation memorandum, Sioufas added, the conditions are created on one part for the supply of natural gas, and hydrocarbons in general, to Greece from Azerbaijan and, on the other, for the transport of gas from this country to Italy and the European markets through Turkey and Greece.

The signing also confirms "the wish of the Republic of Azerbaijan and Greece to have Azeri natural gas transported within the year 2012, through Turkey and Greece and the under-the-sea Greek-Italian natural gas pipeline, to Italy and the European markets, is confirmed," Sioufas said.

"With this cooperation and this project of ours, we are linking the Caspian region and Asia with Europe. Greece becomes a bridge between Asia and Europe. A bridge of energy, cooperation, development and peace," he added.

On July 26, in Rome, a proposal by Sioufas had been accepted by his Italian and Turkish counterparts Pierluigi Bersani and Mehmet Hilmi Guler, concerning the signing of a four-party inter-state agreement between Azerbaijan-Turkey-Greece-Italy with which the details of transporting natural gas from the Caspian region would be arranged.

This proposal has also been accepted by Azeri Minister Babayev, while in the coming days, the Greek side will dispatch to the Azeri, Turkish and Italian governments the first draft text so that consultations can start immediately.

On his part, Babayev expressed the wish for this memorandum "not to be the only one in the energy sector and other agrements to follow."

During his meeting with President Aliyev, Sioufas was requested to convey the former's greetings to President of the Hellenic Republic Karolos Papoulias and Prime Minister Costas Karamanlis.

Greece, Italy and Turkey on Thursday, July 26, signed in Rome a tri-party agreement ensuring a project of creating a European Natural Gas Southern Corridor to transport natural gas from East to the West.

The agreement was signed in Rome by Greek Development Minister Dimitris Sioufas, Italy’s Economic Development Minister Pierluigi Bersani and Turkey’s Energy and Natural Resources Minister Mehmet Hilmi Guler.

ANA-MPA