Baku: The World Bank is currently evaluating a project in Azerbaijan that seeks to mitigate gas leaks, as reported by APA-Economics, citing the World Bank.

According to Azeri-Press News Agency, the project focuses on reducing methane emissions by identifying and repairing gas leaks within the gas distribution network managed by 'Azeriqaz'. Additionally, the initiative aims to enhance institutional capacity in asset management. The total funding for the project stands at $15 million, with an anticipated approval date set for April 23, 2026.

As part of the project's framework, a specific financing mechanism will be introduced to facilitate the detection and repair of gas leaks. This mechanism will commence with an initial grant from the GFMR Trust Fund. The funds will be progressively allocated to 'Azeriqaz' through SOCAR, enabling the implementation of priority actions for gas leak detection and repair. The selection of these actions will be guided by criteria including cost-effectiveness, technical complexity, and the potential impact on emissions reduction.

Furthermore, a portion of the GFMR funds will be allocated to developing 'Azeriqaz' institutional capacities related to methane emissions monitoring, reporting, and verification in compliance with OGMP 2.0 standards.