Energy - 2024
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The State Oil Company of Azerbaijan (SOCAR), founded in September 1992, plans to diversify its project portfolio towards low-carbon initiatives by 2035, Hikmet Abdullayev, SOCAR's Deputy Vice Presiden...
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On October 2, British bp, SOCAR Green (a subsidiary of SOCAR), and the Azerbaijan Investment Company (AIC) signed a Joint Participation Agreement in Baku for the construction of the 240 MW “Shafag” so...
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Rovshan Najaf, President of SOCAR, met with Alexander Dyukov, Chairman of the Board of Directors of “Gazprom Neft”, on October 2. SOCAR’s social media publication noted that the meeting involved discu...
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Serbian company “Srbijagas” Director Dušan Bajatović stated that gas supplies from Azerbaijan cannot fully replace Russian gas imports for Serbia. "With the contract with Azerbaijan, we have shown our...
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In September 2024, alternative and renewable energy sources accounted for 35% of the total electricity generated in the Nakhchivan Autonomous Republic, the State Energy Service of Nakhchivan. Accordin...
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Azerbaijan will develop its first National Strategy for Low-Carbon Hydrogen as part of its decarbonization efforts, with plans to replace "grey" hydrogen with "green" hydrogen, Rena Humbatova, Deputy...
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The challenges related to labor issues are slowing down the transition to "green energy," Azerbaijan's Deputy Energy Minister and COP29 Executive Director Elnur Soltanov stated during Baku Climate Wee...
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Gazprom has topped the Forbes list of Russia's most unprofitable companies for 2023. The publication revealed that the company's net loss for the year was 583.1 billion rubles, marking its first accou...
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Global gas demand could increase by 39% by 2050, reaching 5.7 trillion cubic meters, wrote Russian Deputy Prime Minister Alexander Novak in a column for "Energy Policy" magazine. He noted that the tra...
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Gas reserves in European underground storage facilities approached 94.4% by early October, though this falls short of the record levels seen in 2019, when storage was filled to 96.9%. According to Gas...









