Study on the transferability of SOCAR’s monitoring system of GHG emissions to other companies within the oil and gas sector in the region of the Black and Caspian Sea
The high carbon intensity of the oil and gas sector in the region of the Black and Caspian Sea depicts a challenging situation for the enterprises from the region. Thus, the national oil and gas company of Azerbaijan (SOCAR) decided to become a role model and developed with the help of external consultants a climate change strategy and an extensive monitoring system for its GHG emission. This study shall assess, whether the climate change strategy and the monitoring system that were developed for SOCAR are also applicable to other oil and gas companies from the region. A stocktaking of 32 companies reveals that some of the bigger Russian, Ukrainian and Kazakh companies have already implemented extensive systems. However, several companies remain that have not yet undertaken initiatives for the development of a climate strategy or a GHG monitoring system. We find out that in principle every company can introduce a monitoring system but that the necessary expenditure highly depends on specific characteristics of the company.
Client: German Corporation for International Cooperation (GIZ)