Baku/27.04.18/ Turan: The State Oil Company of Saudi Arabia Saudi Aramco has opened a subsidiary company in Azerbaijan.
The Ministry of Taxes of Azerbaijan registered ARAMCO Overseas Company Azerbaijan LLC on March 2, 2018. The authorized capital of the company is 10 thousand euros.
Earlier it was reported the Minister of Energy of Azerbaijan Parviz Shahbazov discussed questions of expanding bilateral cooperation in the energy sector with the King of Saudi Arabia Salman bin Abdul Aziz Al Saud and with the Minister of Energy, Industry and Natural Resources Khalid al-Falih in January 2018.
In addition, the parties decided to establish a working group between the relevant ministries of the two countries to develop energy cooperation. -0-
Energy
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The State Oil Company of Azerbaijan (SOCAR) considers the provision of accessible energy as crucial in the context of a fair energy transition, SOCAR Vice President Afghan Isayev said at a roundtable titled "Fair Transition Partnership and Mobilizing Investments" during the "Baku Climate Action Week." He emphasized the importance of finding a balance between phasing out subsidies and ensuring energy security for the population.
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Azerbaijan exported 6.68 bcm of gas to Türkiye in January-July 2024, the monthly report of the Energy Market Regulatory Authority of Türkiye (EPDC). According to the information, Azerbaijani gas supplies to Türkiye increased by 10.2% compared to the figures from January-July 2023.
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In Azerbaijan, 70% of greenhouse gas emissions are attributed to the energy sector, the Deputy Minister of Energy and Executive Director of COP29, Elnur Sultanov, said during the Climate Action Week in Baku. He noted that Azerbaijan is taking effective measures to "green" its energy sector.
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The State Oil Company of Azerbaijan (SOCAR) will announce the results of its geothermal energy development efforts during COP29, SOCAR Vice President Afghan Isayev said today at a panel discussion as part of the Baku Climate Action Week. He also mentioned that SOCAR is collaborating with Lightsource BP, a company specializing in green energy, to build a 240 MW solar power plant in the Jabrayil region.
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