Harrington: BP will apply the experience gained in Azerbaijan in Central Asia
BP intends to use the experience gained in Azerbaijan to pursue new opportunities in the broader region, including in Uzbekistan and Kazakhstan.
As Report informs, this was stated by Kimberly Harrington, head of international affairs at BP America, at the seventh annual Caspian Business Forum organized by the Caspian Policy Center (CPC) in New York.
According to her, the company's projects in Azerbaijan are of particular interest, as they are based on the experience, knowledge, and capabilities the country has accumulated over the past 30 years.
She noted that the development of the Caspian region's energy sector has become an example of long-term cooperation between governments, businesses, and various communities.
"For BP, the Caspian region is one of the most impressive energy success stories of our time. It is truly an outstanding example, made possible thanks to the joint work of the private sector, governments, and communities to achieve a common long-term goal," Harrington said, speaking at the panel session "Next-Generation Business Along the Middle Corridor: Energy, Transport Connectivity, and Critical Minerals."
Claire Kaiser, head of strategy and senior managing director for Eurasia at McLarty Associates, in turn emphasized the growing role of harmonization and digitalization in the development of the Middle Corridor and in making investment decisions.
She also touched on the topic of the Baku-Tbilisi-Ceyhan oil pipeline, noting that the implementation of major regional projects has historically required political vision first and foremost, followed by investment.
Jamshid Ehsani, head of the global structured finance division at Apollo Global Management, spoke about the development of Apollo's strategic partnership with the State Oil Company of Azerbaijan (SOCAR).
According to him, discussions are currently underway on financing large-scale energy projects in Azerbaijan and abroad.
Marat Birimzhan, head of the Kazakh Invest representative office in the United States, noted Kazakhstan's growing role in the development of the Middle Corridor and the expansion of investment opportunities in such areas as the extraction of critical minerals, manufacturing, transport, and other industries.
"Over the past seven years, the volume of shipments, that is, container shipments along the Middle Corridor, has increased fivefold, and it will grow even more going forward," Birimzhan said.
He also noted the expansion of trade and economic ties between Kazakhstan and the United States, adding that at the end of last year American and Kazakh companies concluded agreements worth a total of $17 billion in such areas as manufacturing, agribusiness, petrochemicals, critical minerals, transport, and logistics.
According to him, in order to attract additional investment, it is necessary to make projects more accessible to international financing.
