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Monday June 27 2022

BP presents decarbonization master plan for Azerbaijan

28 May 2022 12:00 (UTC+04:00)
BP presents decarbonization master plan for Azerbaijan

On May 27, BP presented a decarbonization master plan for Azerbaijan to the Energy Ministry in support of the country's energy transition, Azernews reports.

The paper includes an in-depth assessment of proposals and recommendations for decarbonization and describes Azerbaijan’s renewable potential and low carbon opportunities including pathfinder renewable energy projects, as well as projects and opportunities that can be assisted by BP. Moreover, based on the strategic rationale for decarbonization, the paper presents the feasible outcomes of this process for Azerbaijan out to 2050.

Energy Minister Parviz Shahbazov in a comment on this issue stated that Azerbaijan's transformative priorities and plans to develop as a green growth country and create a net zero-emission green energy zone necessitate the introduction of low-carbon approaches.

He added that this document provides advanced solutions to build Azerbaijan's energy system based on renewable energy sources and a low-carbon future, and to achieve the goal of reducing greenhouse gas emissions by 2050 by up to 40 percent.

"BP's support for the decarbonization process, as well as participation in the implementation of our green agenda, elevates our long-term and reliable partnership in the hydrocarbon sector to a new level and paves the way for our joint contribution to global climate goals," he said.

In turn, BP's Regional President for Azerbaijan, Georgia, and Turkey Gary Jones noted that the development of the master plan and today’s presentation marks a step forward in BP’s cooperation with the Azerbaijani government in support of the country’s energy transition efforts.

"Since the signing of the MOU last year, we have worked hard to develop this master plan for Azerbaijan, building on the expertise of low carbon technology and business models from across the BP Group. We are pleased that we are already in action on a number of components of this plan," he said.

Gary Jones also expressed the hope that BP will continue to play a leading role in helping Azerbaijan develop its energy resources both in hydrocarbons and increasingly in low carbon.

To recall, a memorandum of understanding was signed by the ministry and BP in February 2021 on the cooperation in assessing the potential and conditions required for large-scale decarbonized and integrated energy and mobility systems, including renewable energy projects in the regions and cities of Azerbaijan.

Since then BP and Energy Ministry, as well as various government institutions have been closely cooperating to prepare the master plan. The paper, presented today, is based on wide-ranging discussions of various decarbonization opportunities for the country.

"BP and the Ministry of Energy will continue to work closely together towards the realization of Azerbaijan’s low carbon energy development vision and the country’s overall sustainability goals," BP added.

BP opened its first office in Baku in June 1992 and has since then contributed to Azerbaijan’s oil and gas sector development through operating projects, such as Azeri-Chirag-Gunashli (ACG), Shah Deniz, Baku-Tbilisi-Ceyhan (BTC), and South Caucasus Pipeline (SCP).

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