A $480 million contract was signed between SOCAR and IntelliGrid of the UAE
Artificial intelligence technologies will be applied in the energy sector at the COP29 conference held in Baku
During the opening of the 29th United Nations Climate Change Conference (COP29), SOCAR and IntelliGrid, a joint venture of UAE companies Esyasoft Holding and Presight AI, signed a new agreement within the framework of 13 years of cooperation. This contract envisages the implementation of a comprehensive Smart Gas Network Management System in Azerbaijan. The total cost of the project is 480 million US dollars.
This project will provide an opportunity to modernize Azerbaijan's energy infrastructure, achieve efficiency in gas management and reduce carbon emissions. Intelligent systems will increase the efficiency of operations by optimizing gas consumption, reducing losses and real-time management with the power of artificial intelligence.
The contract was signed by SOCAR President Rovshan Najaf and IntelliGrid's Board Director and Esyasoft Holding CEO Bipin Chandra. Mikayil Jabbarov, Minister of Economy of Azerbaijan and SOCAR Supervisory Board Chairman, as well as Ajay Hans Raj Bhatia, General Director of Digital Transformation of International Holding Company (IHC) located in Abu Dhabi also participated in the event.
Rovshan Najaf emphasized in his speech:
"This cooperation with IntelliGrid is an important step towards making Azerbaijan's energy sector more sustainable and efficient. Using artificial intelligence technologies, we are setting a new standard for the region while optimizing gas infrastructure and reducing emissions."
Bipin Chandra, director of IntelliGrid's Board of Directors, said:
"This contract signed with SOCAR is an important milestone for us. Through this system, we will modernize Azerbaijan's gas distribution network and contribute to energy efficiency."
Towards the Sustainable Development Goals
The goal of the project is accurate consumption tracking, leak detection and gas flow optimization in gas distribution networks using artificial intelligence. This will both improve energy efficiency and contribute to reducing carbon emissions. The project is in line with the goals of doubling energy efficiency by 2030 set at COP28.
This agreement signed between SOCAR and IntelliGrid is considered an important step to accelerate Azerbaijan's energy transition and contribute to climate commitments.
