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Abbas Ganbay

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"Our main goal is to achieve zero carbon dioxide emissions from oil and gas production. From this point of view, SOCAR is undergoing an evolution and becoming an energy company."

President of the State Oil Company of the Republic of Azerbaijan (SOCAR) Rovshan Najaf said this at the panel "Green Energy and Smart City" held on December 21 in Baku within the framework of the Azerbaijani-Turkish Investment Forum dedicated to the 100th anniversary of Heydar Aliyev and the Republic of Turkiye, Azernews reports.

According to Rovshan Najaf, the main issue with the goals now set is the commercialisation of new technologies and their commercial feasibility.

"This requires huge expenditures on scientific and research work. Cooperation and partnership play a big role here. Our main goal is to ensure the energy security of Azerbaijan, its partners, and the region, and to supply the necessary energy to the markets. To this end, we will continue to produce oil and gas, but we will do so in a sustainable, resilient, and carbon-free way.

At the same time, we have joined the Oil and Gas Decarbonisation Charter (OGDC) to achieve zero operations by 2050, zero flaring in normal production by 2030, and zero methane emissions by 2035.

We need to spend more to reach these goals faster. Coordinated cooperation is needed here. In this respect, SOCAR, together with other international energy companies, is an advocate of a fair and science-based transition," Rovshan Najaf said.

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