Azerbaijani SOCAR Attracts International Companies To Revise 'Green' Strategy


(MENAFN- Trend News Agency) BAKU, Azerbaijan, March 18. The State Oil Company of Azerbaijan (SOCAR) has attracted international consulting companies to revise the 'green' strategy, Teymur Guliyev from SOCAR said during the panel discussion within the seminar themed 'Green Hydrogen - Path to Decarbonization', trend reports.

He noted that this process will be completed within six months.

According to him, the revision of the strategy covers issues related to low carbon emissions and the reduction of greenhouse gas emissions.

Guliyev noted that Europe has high hopes for hydrogen and market analysis shows that its demand for hydrogen will increase.

'It's expected that by 2030 the demand for hydrogen will be 20 million tons, 10 million tons of which will be produced in Europe, and the rest will be imported,' he said.

Against this background, research is underway to transport hydrogen through the Trans-Adriatic gas pipeline, and this process is expected to be completed by 2024, added the official.

The seminar themed 'Green Hydrogen - Path to Decarbonization' has been held through the support of AREA and Japan International Cooperation Organization (JICA).

During the seminar, issues such as energy transition scenarios for Azerbaijan, the potential for producing green hydrogen for domestic use and export, as well as the investment climate in the relevant area were discussed.

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