On December 15, the State Oil Company of Azerbaijan (SOCAR) and BP Azerbaijan announced a joint initiative to reduce methane emissions in Azerbaijan. The collaboration is part of the Advancing Global Methane Reduction (AGMR) initiative, which is part of the Methane Guiding Principles (MGP), Azernews reports.

The initiative focuses on instigating methane emissions measurement, reporting, and reduction strategies among Azerbaijani oil and gas operators. It also aims to elevate industry knowledge and skillsets while promoting best practices in environmental stewardship.

To further strengthen the collaboration, SOCAR and BP signed a Memorandum of Understanding (MoU) to enhance cooperation in environmental protection, particularly in reducing global methane emissions. The MoU will enable the two companies to share experience and insights on methane management technologies, identify opportunities for joint technology trials and campaigns, and contribute to raising awareness about methane emissions reduction.

The initiative is part of SOCAR's and BP's commitment to becoming exemplary environmental and socially responsible energy companies. It is also in line with their goals of achieving Zero Route Flaring, Zero Methane, and Net Zero emissions by 2050.

SOCAR and BP are confident that their collaboration will yield significant developments in methane abatement and climate protection. Together, they will work towards creating a customized pathway that meets the needs of Azerbaijan's energy sector.