Deputy Minister: Economies of both countries will benefit from STAR

Baku. 19 October. REPORT.AZ/ Both countries will benefit from STAR Oil Refinery with the annual capacity is 10 million tonnes which will be opened today, Deputy Minister of Energy Samir Valiyev said at the 3rd IAEE Eurasian Conference on "Impact of Global Changes in the Energy Sector on the Caspian and Central Asia Region".

Valiyev noted that this project is another successful example of Azerbaijan-Turkey energy cooperation: "STAR is a project which expands cooperation with other countries and ensures economic stability."

He noted that the demand for natural gas is increasing around the world: "Along with sources and routes, number of ways to transport gas such as pipelines, LNG is increasing. Diversification is a significant part of the energy policy for gas exporters."

According to him, for Azerbaijan, the Southern Gas Corridor aims to deliver gas resources to wider markets and diversify gas routes.

The deputy minister noted that as a result of modernization of the Heydar Aliyev Baku Oil Refinery, high quality oil products will be produced and the country’s economy will get benefit. He also stressed that SOCAR's GPC construction will contribute to reaching goals in the future.