BAKU, Azerbaijan, February 20. Azerenerji OJSC and bp signed a Memorandum of Understanding (MoU) to develop a technical feasibility study for the Sangachal Terminal Electrification Project (bp is the operator of the Sangachal Terminal), Trend reports, referring to Azerenerji's press release.
The MoU will entitle both sides to cooperate in determining the total scope of work for the Sangachal Terminal Electrification Project (STEP).
"The parties shall also jointly agree on the detailed technical design and commercial basis of the project to clarify the scope of work. These issues are key elements in determining the project's commercial viability," the statement indicated.
The OJSC's news statement notes that if the STEP project is
successfully implemented, the gas flaring utilized for the energy
supply of the Sangachal terminal will be discontinued, and the
terminal will be supplied with energy from Azerbaijan's state
energy system.
According to the paper, the STEP is being implemented alongside
BP's initiative to build a 240 MW solar power plant in the Jabrayil
area of Shafag.
Power will be transmitted from Shafag to Jabrayil district, while
the Sangachal terminal will be supplied by the Azerenerji grid.
"As green electricity is less carbon-intensive, greenhouse gas emissions from oil and gas operations at the terminal will be reduced as a result of electrification, which will contribute to reducing emissions in the Caspian region and the country's transition to green energy," the statement of JSC noted.
The press release quotes the head of Azerenerji Baba Rzayev saying that in 2022-2026, Azerbaijan will prioritize the transition to alternative and renewable energy sources, which will reduce carbon dioxide emissions into the atmosphere.
"Consistent steps are being taken within the framework of Azerbaijan's socio-economic development strategy as well as the UN Sustainable Development Goals. Measures implemented following the strategy approved by President of the Republic of Azerbaijan Ilham Aliyev to expand the green energy sector and reduce emissions of harmful substances into the atmosphere are evident. The Memorandum of Understanding signed will also contribute to Azerbaijan's steps to reduce carbon dioxide emissions," the press release also reads.
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