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bp presents plan to support Azerbaijan’s energy transition

Oil and gas giant bp presented a decarbonisation roadmap which includes comprehensive proposals and recommendations to support Azerbaijan’s energy transition.

In particular, the document presents Azerbaijan’s potential for renewable energy sources, low-carbon solutions, innovative renewable energy projects, as well as projects that bp can support.

“Azerbaijan’s transformative priorities and plans to develop as a green growth country and create a net zero-emission green energy zone necessitate the introduction of low-carbon approaches,” commented the Azeri Energy Minister Parviz Shahbazov. “This document provides advanced solutions to build Azerbaijan’s energy system based on renewable energy sources and a low-carbon future and to achieve the goal of reducing the greenhouse gas emissions by 2050 by up to 40 per cent. bp’s support for the decarbonisation process, as well as participation in the implementation of our green agenda, elevates our long-term and reliable partnership in the hydrocarbon sector to a new level and paves the way for our joint contribution to global climate goals.”

This document is based on the signing of a Memorandum of Understanding (MoU) by the Ministry and bp in February 2021 on cooperating in assessing the potential and conditions required for large-scale decarbonised and integrated energy and mobility systems, including renewable energy projects in the regions and cities of Azerbaijan. 

“The development of the document marks a step forward in bp’s cooperation with the Government of Azerbaijan in support of the country’s energy transition efforts,” added Gary Jones, bp’s regional president for Azerbaijan, Georgia and Turkey. “Since the signing of the MoU last year we have worked hard to develop this document for Azerbaijan, building on the expertise of low carbon technology and business models from across the bp Group. We are pleased that we are already in action on a number of components of this document. We hope that bp will continue to play a leading role in helping Azerbaijan develop its energy resources both in hydrocarbons and increasingly in low carbon.”

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