OREANDA-NEWS. May 03, 2011. Ukraine and Azerbaijan begin consultations on supplying liquefied gas to Ukraine, President Ilham Aliyev of Azerbaijan has informed today at a joint press conference with President Viktor Yanukovych, reminding that the relevant agreements had been signed between Ukraine and Azerbaijan in January this year in Davos (the Memorandum of Cooperation on Supplying Liquefied Gas to Ukraine).

"We now begin serious consultations on this issue," Ilham Aliyev said adding that a number of technical, commercial and legal issues have to be solved for realization of this project.

According to Ilham Aliyev, there are consultations being held currently on the level of ministries and companies of the two countries. "I think these consultations will yield concrete proposals and feasibility studies," he said, adding that the feasibility studies should already reflect the volumes of liquefied gas to be supplied, issues connected to its transportation, etc.

"We believe this project is promising, and will be taking active part in the processes of its implementation," Ilham Aliyev said.

The Azerbaijani President called energy sector an important component of cooperation between the two countries. "Everything is well in that area," he said, reminding that last year, 1,5 million tons of Azerbaijani oil was transported to Ukraine.

"This project is new and it is a result of active and effective cooperation between our countries," Ilham Aliyev said.