Both companies own a 20% stake in the TAP pipeline, which is part of the Southern Gas Corridor, while SOCAR is a major shareholder of other Southern Gas Corridor projects.
The agreement was signed in the Italian capital of Rome by representatives from Snam and SOCAR, in the presence of Italy’s Prime Minister Giuseppe Conte and the President of the Republic of Azerbaijan, Ilham Aliyev.
The agreement includes collaboration in areas relating to energy transition and the circular economy and will involve:
- Researching and promoting the use of biogas and biomethane, including the potential creation of anaerobic digestion plants
- Promoting sustainable mobility using compresses natural gas, liquefied natural gas and hydrogen through the development of new distribution stations
- Studying opportunities for developing hydrogen production and related infrastructure.
“Through this project, Snam and SOCAR aim to contribute to the energy transition and circular economy in Azerbaijan, strengthening collaboration between our two countries,” commented Marco Alverà, CEO of Snam. “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.”
Rovnag Abdullayev, president of SOCAR, added: “SOCAR has been taking significant steps in its operations to minimise negative impact on the environment. The cooperation agreement signed today is an important step towards sustainability in the energy industry, aimed at development of a greener economy and to curb global warming, in order to sustain life and prosperity.”