Azerbaijani Energy Minister Announces Volume Of UK Investments In Country

(MENAFN- Trend News Agency) BAKU, Azerbaijan, June 12. The UK is the largest foreign investor in Azerbaijan, with total investments of more than $35.9 billion, Azerbaijani Energy Minister Parviz Shahbazov said during the event dedicated to the celebration of the official birthday of Britain's King Charles III, Trend reports.

''The UK, since the very beginning, has always been our strategic partner, which has played an important role in the development of Azerbaijan through its investments and support of the energy sector. The United Kingdom is the biggest foreign investor in our country, with a total volume of investment of more than $35.9 billion.

Investments and trade are growing as the scope of our cooperation expands. In the first three months of this year, the trade turnover has increased by 16 percent,'' the minister said.

''Our long-term and productive cooperation in the energy sector plays an important role in ensuring global energy security. The energy cooperation between the two countries, initiated in 1994 as part of the "Contract of the Century", has ensured the success of our large-scale projects, and the Southern Gas Corridor has secured the country's status as an energy supplier to the whole of Europe. Start of mining at the "Central East Azeri" field in the 30th year of our cooperation with bp at "Azeri-Chirag-Guneshli" is another achievement,'' he added.

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