BAKU, Azerbaijan, December 19. Azerbaijan’s state oil company SOCAR is interested in investing in bioethanol market and hydrogen development in Romania, said Hamza Karimov, CEO of SOCAR Romania, Trend reports.
“Since June of this year, the government has decided that the fuels sold in gas stations in Romania must necessarily contain biofuels, in the proportion of 6.5 percent in diesel and 10 percent in gasoline. According to European regulations, the renewable energy content of transport fuels must increase from 10 percent in 2020 to 14 percent in 2030,” he said.
Karimov pointed out that hydrogen is emerging as the modern counterpart to diesel, with numerous companies dedicated to its advancement. He believes that Romania, with its abundant resources, presents an ideal environment for the medium and long-term development of hydrogen technologies.
CEO of SOCAR Romania recalled that in a significant milestone, SOCAR inaugurated the inaugural green hydrogen filling station on a Swiss Motorway in June 2023. Sustainably produced hydrogen plays a pivotal role in fostering low-emission, climate-neutral road transport, aligning with the objectives of the energy transition and serving as a crucial component in realizing the aspirations of the Paris Climate Agreement, he added.
SOCAR, having made specific commitments to reduce greenhouse gas emissions during the 28th session of the Conference of the Parties to the UN Framework Convention on Climate Change (COP28) held in Dubai, plans to intensify its activities to sell in Europe its certificates confirming the reduction of carbon dioxide emissions.
SOCAR has become the first company in the region to sell UER (upstream emission reduction) certificates in Europe, specifically in the German market, i.e., certificates confirming the fact of carbon dioxide emission reduction after an international audit. The company intends to continue to follow this direction, increasing the volume of sold certificates if possible.
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