Germany is interested in energy supply from Caspian region

Oct 22, 2007 02:00 AM

Germany is very much interested in energy resource supply from the Caspian region countries, said Germany Economic and Technologies Federal Minister, Michael Gloss, in Baku when opening the Azerbaijani-German forum.
"Additional supply sources presence is very important in a sense of energy storage. Therefore we welcome Nabucco project done for Caspian gas export to Europe. It can not be said that we are not satisfied by present supply sources. But it is always worthwhile to have additional sources. The Caspian region could become central for Europe in a sense of gas and oil supply. Azerbaijan’s role as exporter of energy resources in the world grows. For us this country represents a great interest as energy resources exporter", said Michael Gloss.

He also stated that Germany is interested in Azerbaijan investments and invited Azerbaijani companies to activate its activities in the region.
"Germany has an investment need. If Azerbaijani companies want to invest to German economics, we say‘Herzlich Willkommen’ ", said Michael Gloss. He also stated that economic cooperation between these two countries are being developed successfully enough however Germany is ready to intensify cooperation with Azerbaijan not only in a sphere of energy, but in ecology and waste cleaning, information technologies, alternative energy production, food industry.

Azerbaijan Economic Development Minister, Geidar Babayev, in his turn reported that signing of any memorandum during current event is not scheduled by German delegation.
"The level of economic partnership with Germany is high. German companies actively participate in Azerbaijan energy sector development, in health care and construction. According to the figures, commodity turnover with Germany in 2006 amounted to $ 500 mm. According to the EU statistics, EUR 1.62 bn is a very high figure", said Geidar Babayev.

About 80 German and 120 Azerbaijani companies participated in the forum.

Source: Kazakhstan Today
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