SOCAR plans carbon-neutral development in Garabagh and Eastern Zangazur

The State Oil Company of Azerbaijan (SOCAR) has announced plans for development in the Garabagh and Eastern Zangazur economic regions, Azernews reports, citing the SOCAR's 2023 Sustainable Development Report.

SOCAR stated that it is ready to develop Garabagh and Eastern Zangazur as carbon-neutral zones, and outlined the following measures to achieve this:

- Reducing emissions: Increasing energy efficiency and applying technologies such as CCU/CCUS.
- Construction of EV infrastructure: Developing regional infrastructure for electric vehicles.
- Gas substitution: Replacing natural gas with renewable energy, hydrogen (H2), and other green energy solutions.
- Green fuel production: Transitioning from traditional hydrocarbon fuels to biogas and biodiesel.

It should be noted that SOCAR is the first national oil company of Azerbaijan to actively participate in international economic development processes. It operates in the oil and gas industry and holds an important position on the global stage.

The company was established under the Decree of the President of the Republic of Azerbaijan dated September 13, 1992. Its goal is to create positive and responsible impacts on the economy, society, and the environment. To achieve these goals, SOCAR has defined its strategy, policies, regulations, and corresponding mission and purpose. Increasing environmental and social efficiency is one of the main principles guiding all new projects implemented by the company in pursuit of sustainable development.