Azerbaijan's SOCAR To Gradually Implement Decarbonization Program Until 2050
Date
7/18/2024 9:27:09 AM
(MENAFN- Trend News Agency)
BAKU, Azerbaijan, July 18. State Oil Company of
Azerbaijan (SOCAR) plans to turn into a national energy company by
2050, guaranteeing energy security and sustainability in its
operations on a global scale, the company's head of environmental
disclosures and green affairs department Mustafa Gurbanli told
reporters during the company's media tour, Trend
reports.
He pointed out that SOCAR has prepared a phased decarbonization
program up to 2050 inclusive, which is based on the study of
greenhouse gas emission indicators, real steps to reduce carbon
dioxide and methane emissions, and an assessment of the company's
portfolio of“green” projects.
The company seeks to completely stop gas flaring by 2030 and
reduce greenhouse gas emissions in production by 30 percent
compared to the 2022 figure.
“By 2035, SOCAR plans to reduce emission intensity from
corporate activities by 30 percent and reach NetZero in 2050,"
Gurbanli noted.
Great work is scheduled for 2050 to reduce methane emissions,
and this problem is especially relevant in the process of
hydrocarbon extraction.
“Our foreign partners contribute to ensuring that we implement
the set goals, in particular through the utilization of the newest
technologies. In this regard, cooperation with bp, TotalEnergies,
and ADNOC is already developing,” the SOCAR representative
said.
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