SOCAR has declared its commitment to reducing methane emissions

The State Oil Company of Azerbaijan (SOCAR), which joined the global Oil and Gas Methane Partnership 2.0 (OGMP 2.0) earlier this year, hosted a forum on November 15 within the "Green Zone" of COP29. The event, titled "OGMP 2.0 Leadership Forum," brought together key stakeholders to discuss progress and prospects for methane emissions reduction in the oil and gas industry.

As a member of OGMP 2.0, SOCAR and other participating companies aim to meet stringent methane emissions reduction standards, leveraging innovative technologies and adhering to best practices. The partnership promotes transparent reporting using a tiered rating system, with the ultimate goal for companies to achieve the "Gold Standard" — an industry benchmark for achieving near-zero methane emissions.

The forum at COP29 in Baku featured prominent figures, including executives from SOCAR, TotalEnergies, Italgas, TAP AG, Shell, ADNOC, and Petronas, alongside representatives from the European Commission and UN agencies.

Speaking at the event, SOCAR President Rovshan Najaf reaffirmed the company’s commitment to global emissions reduction targets and transparent reporting. He emphasized the importance of developing accurate methodologies for measuring and monitoring methane emissions, as well as the need to integrate digital technological tools to enhance efficiency.

"We are dedicated to advancing our capabilities in methane emissions measurement and will continue to prioritize innovation and transparency," Najaf stated.

Luca Schieppati, Managing Director of TAP AG — the consortium responsible for transporting Azerbaijani gas to the EU — highlighted the achievements of the Trans Adriatic Pipeline (TAP), the European segment of the Southern Gas Corridor.

“In just four years of operations, we have made significant progress," Schieppati noted. "Annual testing across the three countries hosting TAP infrastructure has resulted in a 70% reduction in emissions compared to our initial 2021 measurements. Having joined OGMP 2.0 last year, TAP quickly achieved a high 'Level 4' rating. We aim to reach the 'Gold Standard' by 2026. This target is shared across all segments of the Southern Gas Corridor," he added.

Methane, a potent greenhouse gas, is responsible for a substantial portion of emissions from the oil and gas sector. While it has a shorter atmospheric lifespan than CO2, methane is significantly more impactful in terms of warming potential.

Efforts to curb methane emissions have become a focal point of international climate initiatives, as cutting methane could yield rapid benefits in mitigating climate change.