15:46 - 18.07.2024

---

July 18, Fineko/abc.az. SOCAR is preparing for the next sale of carbon credits on the European market, ABC.AZ reports, quoting SOCAR department head Mustafa Gurbanli.

He added that SOCAR has already implemented and successfully implemented a project related to carbon credits. This process was carried out as part of leak detection and elimination. The resulting reduction volumes were sold on the German markets (stock exchange) and attracted by SOCAR as investments in “green” projects.

Gurbanli added that a second project is currently being implemented in this area. Within the project, more than 170 leaks have been identified, as a result of which it is expected to reduce carbon dioxide emissions by more than 60,000 tons.

"It is expected that the resulting carbon credits will be sold in Europe, in the German market," he emphasized.