(MENAFN- Trend News Agency) BAKU, Azerbaijan, November 21. The energy
resources of the Caspian Sea provide energy security not only for
the region, but also for European colleagues, Vice President of the
State Oil Company of the Republic of Azerbaijan (SOCAR) Babek
Huseynov said, Trend reports.
He spoke at the ongoing SPE Caspian Technical Conference in
Baku.
"We are at the crossroads of energy, transit, and trade lines in
Europe, Asia, and the Middle East. Management and usage of energy
and carbon resources, as well as renewable potential, have
ramifications beyond this region and can influence worldwide
markets. In other words, the Caspian Sea's energy resources not
only guarantee energy security for the area, but also for our
European counterparts, while causing no harm to the environment. Of
course, the foregoing benefits would not be achievable, therefore
as firms and governments involved in the energy industry, we all
have an obligation to protect the environment. Furthermore, for all
countries in the region, energy revenues are critical to economic
development. They can fund infrastructure projects, social
programs, economic diversification attempts, and living standard
improvements," he stressed.
The SPE Caspian Technical Conference started today in Baku and
will continue until November 23. It will bring together global
industry leaders and technical experts to share perspectives on the
industry and address the unique challenges and opportunities it
presents.
Taking into account the key role of the Caspian region in
shaping future global energy dynamics, this conference, organized
with the assistance of the State Oil Company of the Republic of
Azerbaijan (SOCAR), will feature an expert-selected high-level
program, panel discussions on key issues facing the region, and a
unique opportunity for networking with experts in oil and gas
production.
The program will include an assessment of the current situation
and offer important discussions for investors, operators, service
company representatives, and government authorities in the
region.
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