Italy's energy infrastructure company Snam and Azerbaijan's state oil company SOCAR signed a cooperation agreement to study the development of renewable gases and the use of sustainable energy, SOCAR announced Friday.
The statement said the agreement covers the possibility of delivering sustainable energy sources through the Southern Gas Corridor including the Trans Adriatic Pipeline (TAP) in the future.
Both companies own a 20% stake in TAP while SOCAR is a major shareholder of other Southern Gas Corridor projects.
Representatives of Snam and SOCAR signed the agreement in Rome in the presence of Italian Prime Minister Giuseppe Conte and the President of the Republic of Azerbaijan Ilham Aliyev, according to the statement.
Snam’s CEO Marco Alvera said “through this project, Snam and SOCAR aim to contribute to the energy transition and circular economy in Azerbaijan, strengthening collaboration between our two countries.
"Furthermore, the development of biomethane and hydrogen could offer new opportunities for the delivery of renewable gases through the Southern Gas Corridor and the TAP pipeline, thereby improving environmental sustainability alongside security and flexibility of supply.”
SOCAR’s President Rovnag Abdullayev said the company, which has been taking significant steps in its operations to minimize negative environmental impact, signed the cooperation agreement declaring it an "important step towards sustainability in the energy industry."
He added that the agreement is aimed at the "development of a greener economy and to curb global warming, in order to sustain life and prosperity.”
By Ebru Sengul Cevrioglu