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U.S. supermajor Chevron has signed a memorandum of understanding (MoU) with KazMunayGas (KMG) to discover potential decrease carbon enterprise alternatives in Kazakhstan.
Chevron and KMG plan to judge the potential for decrease carbon tasks in areas resembling carbon seize, utilization, and storage (CCUS), hydrogen, vitality effectivity, methane administration, and carbon monetary disclosure methodology.
The MoU was signed by the managing director for Chevron’s Eurasian Enterprise Unit Derek Magness and the chairman of the Administration Board of KMG Magzum Mirzagaliyev in Kazakhstan’s capital Nur-Sultan.
“On the UN Local weather Ambition Summit, President Kassym-Jomart Tokayev made a press release about Kazakhstan’s intention to realize carbon neutrality by 2060. KazMunayGas, in its flip, has set a purpose to scale back its carbon footprint by 15 p.c by 2031 in comparison with 2019 ranges and goes to take additional actions underneath the Paris Settlement and Kazakhstan’s Doctrine of Carbon Impartial Growth,” Mirzagaliyev mentioned.
“Nonetheless, decrease carbon is a brand new space for us, and we imagine that Chevron’s broad expertise in implementing decrease carbon applied sciences and practices within the oil and gasoline trade will contribute to our capabilities and result in joint decrease carbon tasks. We extremely admire the partnership that has developed through the years of Chevron’s presence in our nation,” he added.
“Chevron has been investing in Kazakhstan for shut to 3 many years. We’re pleased with our historical past of partnership and are dedicated to investing within the nation’s vitality future. This MoU with KazMunayGas marks a brand new chapter in our firm’s efforts to assist the event of Kazakhstan’s vitality sector,” Magness mentioned. “We firmly imagine that we are able to play an vital function within the nation’s vitality transition and achievement of its carbon-reduction targets. By way of our collaboration with KMG, we hope to contribute to offering reasonably priced, dependable, ever-cleaner vitality, and assist the industries and prospects who use our merchandise to advance their decrease carbon targets.”
“Chevron is aware of the way forward for vitality is decrease carbon and reaching the worldwide web zero ambitions of the Paris Settlement would require partnership and collaboration,” mentioned Jeff Gustavson, president of Chevron New Energies, which was launched in 2021 to deal with establishing decrease carbon companies in CCUS, hydrogen, renewable fuels, offsets, and different rising areas. “We’re excited concerning the alternative to pursue these decrease carbon alternatives with KazMunayGas and assist advance the vitality transition in Kazakhstan.”
The collaboration between Chevron and KMG is a part of the efforts of each corporations to assist Kazakhstan’s goal imaginative and prescient to realize carbon neutrality by 2060.
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