24th International Caspian Oil&Gas 2017 exhibition kicks off in Baku

The 24th International Caspian Oil and Gas exhibition, Caspian Oil&Gas 2017, and the 7th Caspian International Power and Alternative Energy Exhibition have kicked off in Baku today.

Azerbaijan's president Ilham Aliyev and the First Vice-President, first lady Mehriban Aliyeva are participating in the exhibition.

The Azerbaijani president made the remarks at the official opening of the exhibition.

The President noted that it already is the 24th exhibition being held in the country. "Holding of this exhibition in Azerbaijan is a remarkable event. This shows that Azerbaijan is known as a reliable partner, producing and exporting oil and gas to markets," he stressed.

He noted that the interest in the exhibition is not declining, on the contrary, it is growing, adding that 300 companies are participating in the exhibition. Ilham Aliyev expressed confidence that this exhibition will also be successful. He noted that "the first exhibition had played an important role for introduction of Azerbaijan to the world". "Azerbaijan was not known at that time. The exhibition played a significant role for introduction of Azerbaijan’s oil and gas potential," he explained.

He expressed gratitude to the organizers of the exhibition, adding that they have been cooperating with Azerbaijan for 24 years already and have been making great contributions to the country’s development. "Azerbaijan established reliable partnership with investors on the basis of mutual benefit," President Aliyev stressed.

President Aliyev recalled that Azerbaijan's first oil was extracted in 1846. "New historical documents were found. According to these documents, the first oil well was drilled in Bibiheybat in 1846. This year, we erected its monument there. In the mid of the 21st century, the first offshore oil was extracted in Caspian Sea. Homeland of offshore oil production is also Azerbaijan," he said.

US President Donald Trump said in his welcome message to participants of the exhibition that the US attaches great importance to joint projects with Azerbaijan.

"I value the partnership the US and Azerbaijan have built together over the last quarter of the century and look forward to its continued growth," Trump's letter says.

Trump conveyed his best wishes to Azerbaijani President and the people of the country on the occasion of this annual exhibition and conference in Baku. He noted that the US remains strongly committed to the Southern Gas Corridor and welcomes the efforts of Azerbaijan and its international partners to complete it. "I appreciate Azerbaijan’s important role in the global energy security including the development and exportation of energy resources from the Caspian region," the letter says.

Trump stressed that he supports and encourages Azerbaijan’s efforts to diversify its economy and look forward to exploring other areas of cooperation to the benefits of both our people. "The US is ready to work with Azerbaijan as the country continues to undertake economic and governmental reforms," he said.

The President noted that the US is also committed to peaceful resolution of the Nagorno-Karabakh conflict through the Minsk Group process. "Americans hope for increased prosperity and stability in Azerbaijan, and the Southern Gas Corridor and this conference are important for achieving those goals," he concluded.

The exhibition was also addressed by the European Commission Vice-President for Energy Union Maros Sefcovic in his video message.