UAE’s Masdar, Azerbaijan ink renewables agreement: Emirati renewables giant Masdar and the State Oil Company of the Republic of Azerbaijan (SOCAR) signed an agreement to develop renewables projects with a combined capacity of 4 GW, Azerbaijani news outlet Azernews reports. The projects will include the joint development of offshore wind energy and hydrogen projects with a capacity of 2 GW, solar photovoltaic energy projects with a capacity of 1 GW, and 1 GW of onshore wind energy. No financial details or a prospective timeline on the projects has been disclosed.

Masdar already has a foot in the door in Azerbaijan: The renewables company signed an implementation agreement for a 230 MW solar plant in 2020, which broke ground in March 2022. The plant will generate 500 mn kWh of renewable energy annually and cost an estimated USD 200 mn funded by foreign investments.

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• The Egyptian Natural Gas Holding Company (EGAS) inked an MoU with Italian multinational energy company Eni to reduce emissions by identifying opportunities to reduce gas flaring and methane emissions in the Egyptian oil and gas sector and exploring the feasibility of carbon capture, utilization and storage projects. (Statement)