SOCAR unveils green energy goals at Caspian Energy Forum

As an oil and gas company, the State Oil Company of Azerbaijan (SOCAR) is exploring additional ways to reduce emissions.

This was stated by Teymur Guliyev, SOCAR's deputy vice president for the Energy Transition, Environment, and Decarbonization segment, during his speech at the "Caspian Energy Forum" held in Baku, Azernews reports.

According to him, SOCAR began its transition to "green energy" two years ago at the initiative of management: "SOCAR has always been recognized as an energy company specializing in oil and gas. However, today there is a global trend towards energy transition, and many leading companies are already focused on sustainable energy. Considering these examples, SOCAR started these efforts on the eve of COP28."

T. Guliyev noted that the process has been difficult due to a lack of specialists in the field of "green energy" and decarbonization in the country.

He stated that at COP28, SOCAR presented its decarbonization goals to the public for the first time: "The main goal is to achieve net-zero emissions by 2050. The next stage includes outlining the company's goals, within which it will engage in the implementation of "green energy" projects. SOCAR Green was founded as part of this initiative."