President Aliyev's speach at the BTC inauguration

Esteemed Mr. President Ahmet Necdet Sezer!

Esteemed Mr. President Mikhail Saakashvili!

Esteemed Mr. Prime Minister Recep Tayyip Erdogan!

Ladies and gentlemen!

Dear friends

Today is a historical day. The Baku-Tbilisi-Ceyhan oil pipeline is about to start operating, and we have come together at the Ceyhan terminal to mark this historical day. The today's ceremony began with the short film which brought back some historical moments. Today we once again saw the footages of signing the 'Contract of the Century' in 1994. Indeed, 1994 was the year which marked beginning of all these works, the huge projects. The signing of the 'Contract of the Century', in its turn, marked the beginning of the great oil strategy in Azerbaijan. The Azerbaijan's new oil strategy initiated by President Heydar Aliyev used its whole potential, and has allowed us to achieve all the goals we had set. The Azeri oil produced from the Azeri-Chirag-Guneshli oil fields, today is exported to the world markets by various routs.

I would like to note as well that Azerbaijan was first ever to invite foreign investors to its sector of the Caspian Sea. No foreign companies operated in the Caspian ever before. Azerbaijan is generally known as the oil country. Azerbaijan was the first ever country, where oil was produced by industrial method.

Moreover, the first ever off-shore oil production was realized in Azerbaijan, in the Caspian Sea. The new projects launched in 1994 brought the oil glory back to Azerbaijan. By effective usage of these possibilities Azerbaijan today is strengthening its economic potential.

The economic development in Azerbaijan is already obvious to all of us. Over the last year, the economy grew 26%, whereas through five months of this year, it has grown approximately 40%. The basis for these accomplishments was laid by the 'Contact of the Century' signed at the initiative of the National Leader Heydar Aliyev in 1994.

At that time Azerbaijan was in very difficult situation. The newly independent country was in economic crisis. Political situation in the country was far from being good, as well. Stability was not yet established fully in the country. Azerbaijan was considered as a very risky country, and it required great political skills, huge wisdom and prescience to attract foreign investments to Azerbaijan, make the investors sure that their investments, if put in Azerbaijan, will not be lost but, on the contrary, will bring extra revenues. Today we are experiencing these wonderful moments thanks to the activities of the National Leader of Azerbaijan Heydar Aliyev.

If we take into account that there were some doubts about the Baku-Tbilisi-Ceyhan pipeline both within the country and the region, and to some extent in the world, then we will see how much difficult it was to realize this work. Some didn't believe, some were trying to hamper construction of the Baku Tbilisi-Ceyhan pipeline. But the will of our people, the will of the leaderships of Turkey and Georgia, our joint activities have turned this legend into reality.

Over the last 12 years, more than 20 $billion have been invested in oil and gas sector alone in Azerbaijan. Today, there are three oil export pipelines delivering Azeri oil to the world market. The largest one is the Heydar Aliyev Baku-Tbilisi-Ceyhan pipeline. Over the mentioned period, Azerbaijan's oil infrastructure has been renewed and modernized, qualified specialists and workers have been trained. It became possible due to our joint activities, and our cooperation with foreign companies. Taking this opportunity, I would like especially mention activities of the foreign companies.

I highly appreciate the work done by the BP-led consortium since 1994. At the same time, BP is a major player in the Baku-Tbilisi-Ceyhan project, and we highly value and praise the contributions made by this company. It made it possible for Azerbaijan to develop economically, and take advantage of the oil factor. We are well aware of oil history. We also studied the experience of various countries. Unfortunately, sometimes, oil does not bring prosperity to nations and peoples, but difficulties, social injustice, problems and tension. We want the oil to bring peace, progress and cooperation to Azerbaijan, and better our people's well-being. Of course, all the work done is aimed at it, and the State Oil Fund functioning in Azerbaijan for many years is a vivid evidence of this.

Today, I would like to focus on the related activities of the United States. We have always felt the America's support, relied on it, and in some cases that support plaid a key role. The support of the American government was especially important in both development of the Azeri-Chirag-Guneshli oil fields and construction of the Baku-Tbilisi-Ceyhan oil pipeline. We highly appreciate it and are grateful to the American government for that. International cooperation has been launched in the wake of these works: three countries Turkey, Georgia and Azerbaijan, foreign oil companies, foreign financial structures, new specialists, oilmen, workers and lawyers. On behalf of the government of Azerbaijan, I express my deep gratitude to every one who has contributed to these works.

Putting the pipeline into operation opens new horizons and new opportunities to Azerbaijan. Azerbaijan will do turn into economically rich country. All the social problems existing in the republic will be resolved. Azerbaijan is becoming an important oil exporter. I am sure that Azerbaijan will use its oil revenues to solve all the social problems, and will confidently integrate into the world economy.

Look how strong impetus the launching of the Baku-Tbilisi-Ceyhan oil pipeline gave to the processes taking place in the region. We are very close to putting into operation of the Baku-Tbilisi-Erzurum gas pipeline. This project so far has been as if in the shadow of the Baku-Tbilisi-Ceyhan. Today, however, everybody can see its strategic importance. If to take into consideration the problems of energy security in Europe and the world, then we will see that supply of the Azeri gas to Georgia and Turkey is of strategic importance.

We are entering a new era. Maybe a few years ago, we supposed that our major work would end with completion of the Baku-Tbilisi-Ceyhan oil pipeline. However, the life does not stand still. Completion of the Baku-Tbilisi-Ceyhan pipeline is just the beginning of the new period of our work. After this, Kazakhstan will deliver its oil through this pipeline to the world markets. Gas-rich Azerbaijan will dispatch the gas from Shah Deniz gas field to Europe. The other important projects, the projects following the Baku-Tbilisi-Ceyhan become active as a result of the commissioning of the Baku-Tbilisi-Ceyhan.

It is not the economic project, it is just not the technical project, although, there were some technical, economic and political difficulties in launching it. Baku-Tbilisi-Ceyhan has a broader meaning. This project has already gone beyond the regional framework to reach the global level. This project is also of great significance for the world today, and its importance will increase in the future. In this case, the importance of Azerbaijan, Georgia and Turkey will increase too. The other countries can use and benefit from this corridor. In this case, Azerbaijan will begin to work equally with our friends as oil and gas producing and, at the same time, the transit nation. Therefore, incredibly nice opportunity is becoming available. All these opportunities must be strengthened, and security measures in the region must be toughened to use them. I am sure that the importance of the Baku-Tbilisi-Ceyhan will rise in this cause too. Security measures, regional cooperation, restoration of peace are needed for the region. The regional development will be enriched with the other forms. Today, Azerbaijan, Turkey and Georgia are regional allies. Our alliance is already realized in life. Our alliance brings security, stability to the region. We want it; we want to live in peace and stability. We want our peoples to live in prosperity, the problems to be solved and our countries to strengthen. All three countries will derive a great benefit from this project. Probably, it is impossible to imagine all of them today. However, with time and life passing, we will see the vivid examples of them.

There are new issues and projects ahead. The creation of the Kars-Tbilisi-Baku railway is already on the agenda, and we are working very serious on it. As a whole, Baku-Tbilisi-Ceyhan oil pipeline is very important for restoration of the old Silk Road. In a word, this project is of global nature, and the fruitful cooperation of the three nations made it possible.

I take this opportunity to say our bilateral relations with both Turkey and Georgia are at the top level. These friendly relations make our peoples closer and pave the way for implementation of the big projects. Today, the projects being implemented in Azerbaijan are the world's biggest energy projects. The world's future will be intertwined with energy sources. Everybody knows and sees that energy security contributes much to the country's general security. Energy independence strengthens the independence of country.

Georgia and Azerbaijan are the young states. We regained our independence only 15 years ago, and independence is the greatest gift and wealth to us. Baku-Tbilisi-Ceyhan will strengthen our independence and ensure our energy independence. In this case, we will purse an independent policy to improve our peoples' welfare and, with confidence, defend our national interests. Therefore, Baku-Tbilisi-Ceyhan has very broad aspects. It will take much time today to list them. In short, this strategically important project determines the fate of our country and ensures its happy future.

Today, I am very happy that I am here. The Ceyhan terminal was also given the name of national leader of Azerbaijan Heydar Aliyev. It was not accidental. Both Baku-Tbilisi-Ceyhan and Ceyhan terminal bear the name of Heydar Aliyev. Heydar Aliyev was initiator and architect of this project. I regret today that he cannot see these days.

The cooperation, fraternity of Azerbaijan, Georgia and Turkey will continue to strengthen and bring peace and stability to our region.

Dear friends, I heartily congratulate all of you on the occasion of this beautiful, historical event, and wish peace and happiness to fraternal peoples of Turkey, Georgia and native Azerbaijan.

Thank you.

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