The World Bank, Global Gas Flaring Reduction Partnership (GGFR) held its annual meeting in Azerbaijan for the first time on May 7-8, 2018. The meeting coincided with the 10th anniversary of the cooperation between SOCAR and the World Bank working toward the elimination of global warming and climate change. As a result of the project implemented jointly by SOCAR, BP and the GGFR approximately 4.5 billion cubic meters of flaring gas have been utilized in recent years.
The participants of the meeting will visit SOCAR’s production sites to learn from the experience of Azerbaijan on gas flaring reduction, its achievements, as well as the possibility of sharing this knowledge throughout the world. 50 senior officials and experts represent 18 countries and 13 international oil and gas corporations at the GGFR annual meeting.
The opening session was attended by Rovnag Abdullayev, President of SOCAR, Mukhtar Babayev, Minister of Ecology and Natural Resources of the Republic of Azerbaijan, Rafiga Huseynzade, SOCAR Vice President for Ecology, Naveed Naqvi, World Bank’s Country Manager for Azerbaijan, Europe and Central Asia, Christopher Gilbert, GGFR manager, Ghulam Isaczai, UN Resident Coordinator and UNDP Resident Representative in Azerbaijan, senior managers of BP, Chevron, Exxon, Norwegian Petroleum, Shell, Statoil, Total and other leading oil and gas companies.
In his address to the meeting, Rovnag Abdullayev, President of SOCAR, said: “Today humanity faces several global problems, including environmental ones. This is a worldwide problem. Hence why SOCAR carries out its activity together with international organizations. Gas Flaring Reduction, along with its contribution to the protection of environment saves this resource for the country’s economy and serves economic sustainability”.
Naveed Naqvi, World Bank’s Country Manager for Azerbaijan, Europe and Central Asia, said: “Currently more than 75 governments, oil companies and development institutions joined the Zero Routine Flaring by 2030 Initiative. We have been working together with Azerbaijan and SOCAR to reduce carbon emission for 10 years. I think, SOCAR’s successful experience is an important contribution to the elimination of this global environmental problem and their experience could be a good example for other oil and gas companies”.
The World Bank together with governments and companies started the Global Gas Flaring Reduction Partnership in 2002. It aims to divert gas resources to the sustainable development of the countries and diversification of the economies. 150 billion cubic meters of gas is flared at the world’s oil production sites. It causes emission of more than 300 million tons of CO2. If these resources are diverted to the production of electricity, it will produce 750 billion kVt energy, which is equal to the Africa’s yearly demand.