“The contract of the century” actually changed the geopolitical and geo -economic situation in the region. This was stated by Azerbaijani President Ilham Aliyev at the official opening ceremony of the 30th exhibition Caspian Oil and Gas, the 13th exhibition Caspian Power and the 30th Forum Baku Energy Forum.
The first exhibition Oil and Gas Caspian was organized in 1994, and immediately after it, Azerbaijan signed an agreement with the consortium of international oil companies, which was subsequently called the “contract of the century” and actually changed the geopolitical and geo -economic situation in the region, “the head of state said.
The President noted that today Azerbaijan is a country with a stable political system with a developing economy.
Aliyev said that Azerbaijan conducts large -scale reforms and the country’s external debt is less than 7 percent of GDP.
According to the president, the green agenda of Azerbaijan is very ambitious. The country, rich in oil and gas, invests together with foreign investors in green energy that demonstrates our responsibility, ”he said.
The Head of State also noted that with such a potential of green energy, Azerbaijan will be able to satisfy Azerbaijan’s growing needs for electricity, mainly due to renewable sources.