AzerEnergy and bp ink memorandum on electrification of Sangachal terminal

FEBRUARY 20, 2024

Today, a Memorandum of Understanding (MOU) was signed between AzerEnergy OJSC and bp (as the operator of the Sangachal terminal).

Report informs, citing AzerEnergy, that a technical solution will be drawn up for a project that envisages the electrification of the Sangachal terminal.

Cooperation in the direction of determining the total scope of work on the "Sangachal terminal electrification project" (STEP) and sharing this volume between AzerEnergy and the operator of the Sangachal terminal is planned. The parties will also work together to negotiate the detailed technical design and commercial framework of the project to clarify the scope of work. These issues are the main elements in determining the commercial efficiency of the project.