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                               Oil and gas companies sign Memorandum of Understanding on Caspian Environmental Protection Initiative (CEPI)
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                                   14 September 2020                                                                    

Oil and gas companies sign Memorandum of Understanding on Caspian Environmental Protection Initiative (CEPI)

                               
                               

On September 14, 2020, a Memorandum of Understanding on CEPI-Caspian Environmental Protection Initiative was signed at Ecopark, SOCAR's Environmental Research Center. CEPI, initiated by SOCAR and established by SOCAR, KazMunayGas, BP, Equinor Absheron AS and Total E&P Absheron B.V., considers proactive steps toward combating climate change, emissions of greenhouse gases and hazardous substances to the atmosphere.

Rafiga Huseynzadeh, Chairperson of the Executive Committee of CEPI, Vice-President of SOCAR for Ecology, addressed the event with a welcoming speech and informed about the plans and future activities within the framework of the Initiative. The Memorandum of Understanding was signed by Rovnag Abdullayev, President of SOCAR, Alik Aydarbayev, Chairman of the Board, KazMunayGas, Gary Jones, BP Regional President, Azerbaijan-Georgia-Turkey, Fawad Quraishi, Country Manager for Azerbaijan, Equinor Absheron AS and Regis Agut, Managing Director, Total E&P Absheron B.V.

Mukhtar Babayev, Minister of Ecology and Natural Resources of the Republic of Azerbaijan, Goulam Ishagzai, UN Resident Coordinator for Azerbaijan and Alessandro Fracassetti, UNDP Resident Representative for Azerbaijan attended the ceremony as observers. In their speeches, the participants stressed the importance of the Memorandum of Understanding.

Rosneft, Gazprom and Eni have announced their intention to join CEPI, while the United Nations, the United Nations Development Program and the World Bank have announced their intention to join as observers.

After the signing of the Memorandum of Understanding, participants of the event planted trees in the territory of Ecopark-Environmental Research Center.

By signing the Paris Agreement adopted at the 21st conference of the UN Framework Convention on Climate Change, the Republic of Azerbaijan has shown its intention to reduce greenhouse gas emissions and pave the way for an environmentally sustainable future. To achieve the goals of the Paris Agreement, the State Oil Company of the Republic of Azerbaijan (SOCAR) constantly implements the most advanced environmental measures and solutions to ensure environmental safety and efficient use of resources, reduce carbon intensity and ensure sustainable development of the region.

Note: The event was held in the open air and in accordance with the conditions of the pandemic period, a social distance was maintained during the event.