BAKU, Azerbaijan, September 9. SOCAR continues
to implement its program to reduce methane emissions, the vice
president of the State Oil Company of Azerbaijan (SOCAR), Afghan
Isayev said during Baku Climate Action Week, Trend's correspondent reports
from the event.
According to him, with additional funding, it will be possible
to implement further programs to reduce methane emissions and
repair the relevant infrastructure.
“As part of SOCAR’s methane reduction program, measurement
campaigns were conducted in collaboration with partners such as the
Boston Consulting Group, Sniffers, and GHGSat. Over the past two
years, the program has achieved progress amounting to approximately
1–2 million metric tons of CO₂ equivalent,” Isayev noted.
Speaking about the energy transition and the integration of
renewable energy sources, he noted that solar and wind energy
projects are supported by government programs, including investment
certificates: "The goal for 2030 is for renewable energy sources to
account for at least 30 % of the energy mix.
Partnerships with foreign developers, including Masdar, ACWA
Power, BP, and Universal Energy, will enable us to exceed the 30 %
target by 2030."
Isayev also noted the high potential of geothermal energy for
both centralized heat supply and electricity generation.
He stated that, during discussions with the Minister of Energy,
the development of geothermal energy was included in government
programs that call for the drafting of new legislation and the
creation of risk-mitigation tools.
Furthermore, Isayev reported that SOCAR, in collaboration with
Schlumberger and Baker Hughes, conducted desk studies to identify
areas in Azerbaijan with high geothermal energy potential: “SOCAR
is currently seeking partners to participate in the capital of
these projects in order to share project risks.”
