Decline in oil prices in the world market will not continue for a long time and oil price will increase and stabilize from next year.

According to the the Energy Ministry, Azerbaijani Energy Minister Natig Aliyev said in the meeting with Gordon Birrell, BP Regional President, Azerbaijan, Georgia and Turkey, held in Baku.

Drop in oil prices during recent periods, its reasons and future development priorities of oil producing countries as well as further cooperation of foreign companies involved in oil projects have discussed in the meeting.

G.Birrell provided information about current state of the company's activity and works carried out for implementation of the Southern Gas Corridor project.

N.Aliyev stated preparatory works for the meeting of the Southern Gas Corridor Advisory Council have been completed, attendance by energy ministers of member countries and European Commission Vice President on Energy Issues, official representatives of International Finance Corporation, the European Bank for Reconstruction and Development, State Oil Company of Azerbaijan Republic, 'BP Azerbaijan', Trans-Anatolian Pipeline (TANAP), Trans-Adriatic Pipeline (TAP) and of other international organizations is expected.