SOCAR, JBIC ink MoU on decarbonization
SOCAR and Japan Bank for International Cooperation (JBIC) have inked a Memorandum of Understanding on promotion of cooperation in decarbonization on the sidelines of the 32nd Annual Meeting of the European Bank for Reconstruction and Development (EBRD) held in Uzbekistan, the Azerbaijani state oil company told News.Az.
The memorandum envisages promotion of cooperation between SOCAR and Japanese companies in order to accelerate the implementation of projects that contribute to the reduction of carbon emissions.
As part of partnership, the companies will exchange information in accordance with the global decarbonization trend on introduction of low-carbon technologies, including CCS (carbon capture and storage) and CCUS (carbon capture, use and storage), hydrogen and ammonia projects.
SOCAR and Japanese companies will work together to develop cooperation and accelerate the implementation of projects that will contribute to carbon dioxide reduction and environmental improvement.