SOCAR PETROLEUM, a subsidiary of SOCAR engaged in the wholesale and retail distribution of automotive fuel and oil products, and the Singaporean company CZAR, specializing in the development and promotion of eco-friendly technologies and solutions, have signed an agreement on cooperation in the development of electric vehicles' infrastructure in Azerbaijan. The document implies the installation of charging stations for electric cars at all SOCAR filling stations during the first half of 2021.
As part of cooperation between SOCAR PETROLEUM and CZAR, maintenance points for electric vehicles will be organized at specially selected SOCAR filling stations. The implementation of this agreement thereby represents the next significant step in transforming SOCAR's filling stations into a network of multi-fuel filling stations ready to meet the demand of users of all types of vehicles, including electric vehicles.
The cooperation in the development of electric vehicles' infrastructure is focused on establishing an appropriate operating environment that will increase the demand for electric cars. In this regard, SOCAR PETROLEUM and CZAR consider implementing this agreement as a project of great social significance and economic prospects, directly developing the electric transport market in Azerbaijan. It is known that the use of electric transport, in the presence of a developed infrastructure, can significantly cut the operating costs of individual and corporate users. The environmental component of this project is also crucial since electric transport, unlike vehicles with internal combustion engines, does not discharge toxic and greenhouse gases, thus reducing harmful emissions into the atmosphere.
SOCAR Petroleum CJSC owns and operates a network to distribute automotive fuel and petroleum products, consisting of 36 SOCAR filling stations and 11 oil terminals. As a leader in the introduction of CNG as a motor fuel, SOCAR Petroleum CJSC manages a terminal for the production and sale of this type of motor fuel. The priority of SOCAR Petroleum CJSC is to meet the demand and needs of customers with particular attention to safety, the accuracy of fuel sales, and the convenience of services.
CZAR International PTE LTD is a Singapore-based company aiming to develop, implement, and promote eco-friendly technologies and solutions in the transport sector and agriculture. The company's management is focused on introducing electric vehicles in Azerbaijan, considering this segment to be extremely promising from an economic and environmental point of view.