(MENAFN- Trend News Agency) BAKU, Azerbaijan, May 17. Azerbaijan's state
oil company SOCAR and the Japan Bank for International Cooperation
(JBIC) have signed a Memorandum of Understanding on the promotion
of cooperation in the field of decarbonization, Trend reports via
The document was inked May 16 during the Annual Meeting of the
European Bank for Reconstruction and Development (EBRD) in
SOCAR and Japanese companies will accelerate the implementation
of projects that contribute to reducing carbon emissions. In line
with the global trend towards decarbonization, the companies will
exchange information on implementing low-carbon technologies,
including CCS (carbon capture and storage) and CCUS (carbon
capture, use, and storage), hydrogen, and ammonia projects.
SOCAR and Japanese companies will develop cooperation on
projects contributing to carbon dioxide reduction and environmental
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