The European Bank for Reconstruction and Development (EBRD) and the World Bank (WB) will help Azerbaijan, Kazakhstan, Russia and Turkmenistan improve energy efficiency to boost business competition in oil operations, the EBRD said.
The initiative will be realized within the program for global partnership for reduction of liquefied gas. The EBRD and WB will assist in innovative market studies, evaluation of gas withdrawal and burning on 100 oil facilities in four the states. Studies will include analysis of legal, market, infrastructure and financial barriers. International and local experts will make classifications of oil fields in every state.
Financing of research will be provided by the special stock fund of the EBRD. A million euro will be spent on the project.
