BAKU, Azerbaijan, March 27. SOCAR Green has launched evaluations to explore green hydrogen production potential, the company told Trend.
"Committed to reducing carbon emissions and promoting renewable energy, SOCAR Green is actively exploring the potential for green hydrogen production in the country. To assess its feasibility, we have launched comprehensive studies and evaluations, which align with Azerbaijan's broader goals of diversifying its energy portfolio and reducing dependence on fossil fuels," said the company.
SOCAR Green said it is considering various solutions, including the export of green hydrogen, integration with green ammonia and fertilizer production, and its use in energy storage, to identify the most viable path forward.
"In this effort, we are collaborating with various international partners in this respect."
Low Carbon Hydrogen Economy Market Study prepared by the Advisian consulting company with the support of the European Bank for Reconstruction and Development (EBRD) states that Azerbaijan is well-positioned to develop a low-carbon hydrogen economy taken into account the huge renewable energy potential (onshore and offshore) and direct access to the natural gas reserves.
The report provided positive results defining commercial viability to produce green hydrogen and opportunities to supply it to the regional energy markets (including the EU) as well as identified application areas of hydrogen in the domestic consumption. The Market Assessment provides information on future steps of hydrogen deployment in Azerbaijan, application areas of green hydrogen in the energy and industrial fields within the domestic consumption, production cost of hydrogen (LCOH), export routes opportunities, and other issues.
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