(MENAFN- Trend News Agency) BAKU, Azerbaijan, February 20. Azerenerji OJSC
and bp signed a Memorandum of Understanding (MoU) to develop a
technical feasibility study for the Sangachal Terminal
Electrification Project (bp is the operator of the Sangachal
Terminal), Trend reports, referring to Azerenerji's press
release.
The MoU will entitle both sides to cooperate in determining the
total scope of work for the Sangachal Terminal Electrification
Project (STEP).
"The parties shall also jointly agree on the detailed technical
design and commercial basis of the project to clarify the scope of
work. These issues are key elements in determining the project's
commercial viability," the statement indicated.
The OJSC's news statement notes that if the STEP project is
successfully implemented, the gas flaring utilized for the energy
supply of the Sangachal terminal will be discontinued, and the
terminal will be supplied with energy from Azerbaijan's state
energy system.
According to the paper, the STEP is being implemented alongside
BP's initiative to build a 240 MW solar power plant in the Jabrayil
area of Shafag.
Power will be transmitted from Shafag to Jabrayil district, while
the Sangachal terminal will be supplied by the Azerenerji grid.
"As green electricity is less carbon-intensive, greenhouse gas
emissions from oil and gas operations at the terminal will be
reduced as a result of electrification, which will contribute to
reducing emissions in the Caspian region and the country's
transition to green energy," the statement of JSC noted.
The press release quotes the head of Azerenerji Baba Rzayev
saying that in 2022-2026, Azerbaijan will prioritize the transition
to alternative and renewable energy sources, which will reduce
carbon dioxide emissions into the atmosphere.
"Consistent steps are being taken within the framework of
Azerbaijan's socio-economic development strategy as well as the UN
Sustainable Development Goals. Measures implemented following the
strategy approved by President of the Republic of Azerbaijan Ilham
Aliyev to expand the green energy sector and reduce emissions of
harmful substances into the atmosphere are evident. The Memorandum
of Understanding signed will also contribute to Azerbaijan's steps
to reduce carbon dioxide emissions," the press release also
reads.
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