The 1st Eurasian Conference of the International Association for Energy Economics (IAEE) on "Energy Economics Emerging from the Caspian Region:Challenges and Opportunities" has started today in Baku.

The main attention will be paid to the issues of energy economy in the region.

Discussions on energy export opportunities on the world market against the backdrop of the low prices, the dynamics of the oil and gas prices, the prospects of alternative energy development in the region against the background of low energy prices, regional energy security and other topics will be held at conference.

Representatives of 24 countries take part at the event.

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Speaking at the opening ceremony, President of IAEE Gurkan Kumbaroglu spoke about the activities of the organization, conferences held and value of the 1st Eurasian Baku conference.

He also gave information about the current situation on the energy market, energy demand, current and future transport routes.

G.Kumbaroglu also touched upon the Trans-Anatolian pipeline (TANAP), designed to deliver Azerbaijani gas to Turkey, and from there to Europe, stressing the importance of the project.