12:21 - 21.02.2020

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February 21, Fineko/abc.az. The State Oil Company of Azerbaijan (SOCAR) and Italian company Snam signed a cooperation agreement.

ABC.AZ reports with reference to SOCAR that at the signing ceremony Snam CEO Marco Alvera stated that the agreement will allow Snam and SOCAR to strengthen cooperation between the two countries, contributing to the energy transformation and periodic economy of Azerbaijan: "The development of biomethane and hydrogen will create new opportunities for transporting renewable gases via the Southern Gas Corridor and TAP, thereby increasing environmental sustainability along with reliable and flexible supply."

In his turn, SOCAR president Rovnag Abdullayev noted that the structure he heads has taken important steps to minimize the negative impact on the environment.

"The goal of this step is to create an eco-friendly economy, contribute to limiting global warming, achieve people's well-being and sustainable development of living standards," Abdullayev said.

Both companies have a 20% stake in the TAP Consortium and are the largest shareholders of the Southern Gas Corridor.