BAKU, Azerbaijan, October 22. Azerbaijan's State Oil Company (SOCAR) has announced upcoming works in Karabakh and East Zangezur economic regions, Trend reports via SOCAR's Sustainability Report for 2023.
It was noted that SOCAR is ready to develop Karabakh and East Zangezur economic regions as a carbon neutral zone, and in this context, its participation is possible through several measures, which include: emission reduction—improving energy efficiency; application of opportunities such as "CCU/CCUS," etc.; creation of electric vehicle infrastructure—creation of regional electric vehicle infrastructure; gas substitution—replacement of gas with renewable energy sources, H2, and other clean energy solutions; production of "green" energy, and other green energy solutions.
To note, SOCAR is the first national oil company of Azerbaijan that actively participates in the processes of international economic development, working in the oil and gas industry, occupying an important place in the world arena. The company was founded following the decree of the President of the Republic of Azerbaijan dated September 13, 1992, and within the framework of its activity is aimed at creating a positive and responsible impact on the economy, society, and environment. To achieve these goals, the company's strategy, policies, and regulations, as well as the corresponding mission have been defined. Improving environmental and social efficiency is one of the main principles in all new projects implemented by the company towards achieving the Sustainable Development Goals.
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