BAKU, Azerbaijan, November 13. On the sidelines of the 29th Conference of the Parties to the UN Framework Convention on Climate Change (COP29) in Baku, KazMunayGas (KMG) and the State Oil Company of the Azerbaijan Republic (SOCAR) signed a strategic agreement on decarbonization, Trend reports.
The document is an important milestone in the long-term strategy of KMG and SOCAR to reduce their carbon footprint. It is also aimed at interaction between the two leading oil and gas companies in the implementation of decarbonization projects and the introduction of low-carbon technologies.
COP29 has become a key international platform for discussing climate issues. The signed agreement demonstrates the growing importance and priority of cooperation between the countries of the region on sustainable development and reducing their carbon footprint.