A unit of US oil supermajor Chevron Corporation said it plans to explore hydrogen, carbon capture and other more environmentally friendly energy operations in Central Asia with a local partner.
Chevron Munaigas and KazMunayGas (KMG) said they would evaluate the potential for carbon capture, utilisation, and storage as well as hydrogen production and methane management.
They would also look into financial disclosure methodology.
A memorandum of understanding was signed by Derek Magness, managing director for Chevron’s Eurasian Business Unit, and Magzum Mirzagaliyev, chairman of KMG, in Nur-Sultan, as the Kazakh capital is now known.
“KazMunayGas has set a goal to reduce its carbon footprint by 15% by 2031 compared to 2019 levels and is going to take further actions under the Paris Agreement and Kazakhstan’s Doctrine of Carbon Neutral Development,” Mirzagaliyev said.
He noted that at the UN Climate Ambition Summit, Kazakh President Kassym-Jomart Tokayev made a statement about Kazakhstan’s intention to achieve carbon neutrality by 2060.
“However, lower carbon is a new area for us, and we believe that Chevron’s wide experience in implementing technologies and practices in the oil and gas industry will contribute to our capabilities and lead to joint lower carbon projects,” Mirzagaliyev added.
- George Russell
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