Rovshan Najaf: Decarbonization costs to decline year by year

Costs related to decarbonization activities will decline year by year, President of the State Oil Company of Azerbaijan (SOCAR) Rovshan Najaf said at the panel discussion themed "Leaders' Speeches: The Road to a Sustainable Energy Ecosystem" within the framework of the 30th Anniversary International Caspian Oil and Gas Exhibition and the 13th Caspian International Energy and Green Energy International Exhibition held in Baku.

Najaf noted that SOCAR offers its partners opportunities to jointly invest in renewable energy projects such as solar energy, where Azerbaijan has great potential.

"Another issue we discuss with partners is how to use more capital and technology in accordance with the opportunities available in the region. One of the main directions will be reducing costs related to services. Because technologies are developing, we believe that the costs of services and decarbonization activities will decline year by year, and this will allow us to provide the best solutions for our customers," he added.

The SOCAR President also pointed out that another potential opportunity that SOCAR currently sees in the region, especially in Azerbaijan and Central Asia, is turning into a hub for high technologies such as artificial intelligence and data centers: "Because we can provide electricity for such projects and our position is very favorable. Azerbaijan is located at the intersection of routes between Asia and Europe. In this sense, geographical location, rich energy resources, predictable rules and laws, digital transformation provide additional assurance to our partners."