Eni SPA and the State Oil Firm of the Azerbaijan Republic (SOCAR) agreed to cooperate on emission discount initiatives within the COP29 host nation on the similar time pursuing hydrocarbon exploration and manufacturing to safe gasoline for Europe.
SOCAR and Italian government-controlled Eni signed three memorandums of understanding (MOU) throughout President Ilham Aliyev’s official go to to Italy.
“The primary MoU targeted on the growth of Eni and SOCAR’s cooperation on hydrocarbon exploration and manufacturing, with the goal of strengthening the vitality safety of Europe, and Italy particularly”, Eni stated in an announcement on its web site.
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Azerbaijan is a provider of pure gasoline for Europe by way of the Southern Gasoline Hall. Azerbaijan agreed final yr to boost gasoline exports to the European Union by way of current infrastructure. The settlement, known as the Solidarity Ring initiative, includes pipelines in Bulgaria, Hungary, Romania and Slovakia, in response to an announcement April 25, 2023, by the Azerbaijani presidential workplace.
“A second MoU envisages the cooperation of Eni and SOCAR to scale back greenhouse gasoline emissions and enhance vitality effectivity within the upstream sector in Azerbaijan, by the applying of finest obtainable applied sciences”, Eni stated. These embody the analysis of carbon seize and transportation options from current vegetation in varied industrial sectors, storage and utilization in deposits in Azerbaijan, in addition to the identification of renewable vitality improvement venture alternatives”.
Beneath the third MOU, Eni and SOCAR will discover cooperation on producing biofuels from agricultural merchandise in Azerbaijan and the Caucasus area.
“Immediately’s agreements verify the areas of cooperation between Eni and SOCAR in view of the subsequent United Nations Local weather Change Convention COP29, to be held in Azerbaijan in November 2024”, Eni stated.
The Azerbaijani president’s workplace stated in an announcement on its web site, “… following the signing of those paperwork, Eni S.p.A will develop a working plan and technique to attain tangible outcomes inside a shorter timeframe”.
Throughout his go to Aliyev additionally held talks with Italian state-backed energy producer Ansaldo Energia Group on potential cooperation in clear vitality. Ansaldo Energia had delivered the gasoline generators for Azerbaijan’s largest thermal energy plant, a 1,280-megawatt venture within the metropolis of Mingachevir that’s anticipated to be accomplished this yr.
“The corporate expressed sturdy curiosity in contributing to the enhancement of Azerbaijan’s vitality system and indicated its intention to collaborate with Azerbaijan’s Azerenerji OJSC”, stated an announcement on the Azerbaijani presidential workplace’s web site.
Elsewhere in Asia, Eni not too long ago signed vitality transition-related agreements increasing its operations in Kazakhstan, the place Eni is already producing oil and gasoline, in addition to photo voltaic and wind electrical energy.
Two months in the past Eni introduced the beginning of development of a 250-megawatt renewable energy-gas energy plant in Zhanaozen, Kazakhstan, a cooperation venture with the Central Asian nation’s NC KazMunayGas JSC (KMG). The venture is “Kazakhstan’s first hybrid energy plant integrating photo voltaic, wind, and gasoline energy to supply and provide low-carbon, steady electrical energy to KMG subsidiaries within the [Mangystau] area”, Eni stated in a press launch July 19.
Sovereign wealth fund Samruk-Kazyna JSC (SK) and Eni additionally signed an MOU for a number of initiatives together with exploring the potential for constructing extra hybrid vegetation throughout Kazakhstan. The deal additionally includes “the evaluation of mineral initiatives and the event of different carbon emission discount applied sciences”, Eni introduced January 18.
An SK portfolio firm, NC QazaqGaz JSC, additionally signed with Eni an settlement “targeted on the change of expertise amongst scientific, technical and analysis facilities to develop technological improvements and human capital, with the goal of lowering carbon emissions in gasoline business operations”, Eni added.
Eni targets to attain web zero emissions by 2050.
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