With support of the State Oil Company of Azerbaijan Republic (SOCAR), the Oil and Gas Decarbonization Charter (OGDC) organized an international event on “Shaping The Industry’s Path To Net Zero And Realizing The Ambitions of OGDC”.
Numerous international energy companies, including SOCAR, bp, Saudi Aramco, ADNOC, Petronas, TotalEnergies, ExxonMobil, Environmental Defense Fund (EDF), International Association for Environmental Protection in the Oil and Gas Industry (IPIECA), International Energy Agency (IEA), and World Bank, took part in this event. Additionally, companies such as WOOD, Baker Hughes, SLB, Uniper, Mitsubishi Corporation, Honeywell, Fortescue, Bain & Company, Boston Consulting Group, Wolters Kluwer Enablon, and other renowned organizations also participated in the event.
The event commenced with comprehensive insights into OGDC, elaborating on its development, future objectives, and potential expansion opportunities. Discussions ensued regarding the impact of OGDC initiatives on global oil and gas companies’ decarbonization efforts, highlighting the achievements made by charter members in emission reduction and fostering exchanges of opinions on the subject. Throughout the deliberations, the primary objective of OGDC—supporting member organizations’ decarbonization endeavors to achieve net zero by 2050—remained a focal point.
During the panel session, SOCAR President Rovshan Najaf provided insights into the company’s decarbonization objectives, energy transition initiatives, and sustainable development endeavors. He shared details about ongoing and forthcoming projects aimed at reducing emissions and also emphasized that hosting the OGDC event in Baku, with SOCAR’s support on the eve of COP29, signifies the company’s commitment to addressing climate change and global challenges in this arena.
Throughout the event, appreciation was expressed for the attention devoted to the activities of OGDC. It was underscored that such gatherings will significantly contribute to the Charter’s implementation and play a crucial role in fostering cooperation.
It is worth noting that SOCAR is one of the 12 companies represented in the Steering Committee of the Charter, being one of the co-founders of the OGDC Charter proposed during COP28 in 2023. The OGDC charter includes goals such as achieving net zero operations by 2050, approaching zero methane emissions in the Upstream segment by 2030, and reducing flaring to zero in the normal production process by 2030.
Source: www.socar.az, www.report.az