The cooperation in the fuel and energy sector will become a strategic direction of further interstate partnership between Turkmenistan and Azerbaijan, the President of Turkmenistan, Gurbanguly Berdimuhamedov, stated in Baku on 20 May.

In his remarks, the Turkmen President said that “Oil and Gas of Turkmenistan and Azerbaijan” conference would be held in Baku in September 2008.

The energy summit to be held in Ukraine this week can play an important role for Europe in diversification of the energy resources, Carlo Stagnaro, Director of the Department Energy and Environment of the Bruno Leoni Institute of Italy said.

Energy summit on energy security will be held in Kiev on 22 to 23 May. The government and business delegations of about 30 countries will take part in the conference including the presidents of Azerbaijan, Georgia, Estonia, Latvia, Lithuania, Moldova, Poland, Romania, the energy commissar of the European Commission, representatives of UN, OSCE, EBRD and World Bank. The key subject of the conference will be feasibility study of the Odessa-Brodi-Plotsk-Gdansk oil pipeline and establishment of the open Baltic-Black Sea- Caspian energy transit space. The summit aims at looking for energy supply sources independent from Russia.

“Opening of oil terminal in Kulevi will promote development of Azerbaijan and Georgia, strengthen the friendship between the two nations and will be a token to implement the new projects for the welfare of both countries,” Azerbaijani Prime Minister Artur Rasizade said at the opening ceremony of the terminal on 16 May.

Transhipment capacity of the terminal will total 10mln fluid cargo per year, including 2mln tons of oil, 3mln tons of diesel fuel and 4mln tons of fuel oil.