Agreement Signed Between SOCAR and BCG

03 Jun Agreement Signed Between SOCAR and BCG

London, (Oilandgaspress) On 2 June 2026, within the framework of Baku Energy Week, a Cooperation Agreement was signed between SOCAR and Boston Consulting Group (BCG) for the implementation of the Caspian Methane Emissions Abatement Accelerator initiative.

The document was signed by SOCAR Vice President Afgan Isayev and Pattabi Seshadri, Managing Director and Senior Partner at BCG.

It should be recalled that on 4 June 2025, within the framework of the Baku Energy Forum, SOCAR, in cooperation with BCG, launched the Caspian Methane Emissions Abatement Accelerator initiative to accelerate efforts aimed at minimizing methane emissions by 2030.

The initiative is designed to strengthen cooperation on methane emissions reduction across the Caspian region, facilitate joint research and studies, support the implementation of collaborative methane mitigation projects, promote knowledge sharing and the adoption of best practices, and encourage emissions reduction measures in oil and gas operations throughout the region.

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London, (Oilandgaspress) Azerbaijan’s state oil company SOCAR has signed a long-term gas supply agreement with TotalEnergies, ADNOC’s investment arm XRG and Turkish state pipeline operator BOTAŞ, locking in future exports from the Absheron offshore field in the Caspian Sea starting in 2029.

The deal, announced at Baku Energy Week, covers gas supplies from the next development stage of the Absheron field. A final investment decision on that stage is expected later this year.

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