Azerbaijan has capital financial resources capable of making its economy stable and predictable, and financial resources of the country are five times higher than external debt, Azerbaijani President Ilham Aliyev said in his speech at the Azerbaijani-Latvian business forum on Monday.
“An important project currently being implemented by Azerbaijan, is the Southern Gas Corridor, which is oriented directly to the interests of Europe and, of course, our interests, and is a project of energy diversification. It is probably the largest infrastructure project in Europe. The total cost of the project is 40 billion dollars. This is a project that will supply the EU market with Azerbaijani gas via a different route and from another source. This is true diversification. Because the diversification of energy is not only the diversification of routes, but, in the main, diversification of sources. In our project, this is exactly the case. As we all know, energy security is important for every country. Therefore, many projects implemented by us in Azerbaijan extend far beyond our borders,” President Ilham Aliyev said.