SOCAR and Masdar agree to expand cooperation on decarbonization

Azerbaijan"s state oil company SOCAR and the UAE-based company Masdar intend to deepen their collaboration in the field of decarbonization.

According to Report, citing SOCAR, the discussions took place during a meeting between SOCAR President Rovshan Najaf and Masdar CEO Mohamed Jameel Al-Ramahi.

Both parties expressed satisfaction with the results of their joint work on the development of renewable energy. In particular, they reviewed progress on projects for the construction of solar and wind power plants in Azerbaijan involving both companies.

The meeting also addressed prospects for expanding cooperation in the areas of a just energy transition and carbon footprint reduction.

Other issues of mutual interest were discussed as well, with both sides emphasizing the importance of continuing dialogue on these strategic areas.