A subsidiary of the U.S. oil giant Chevron Corporation aims to study hydrogen, carbon capture, and other ecologically friendly energy activities with a local partner in Central Asia.
Chevron Munaigas and KazMunayGas (KMG) stated that they will assess the feasibility of carbon capture, use, and storage, as well as hydrogen generation and methane management.
They would also investigate the mechanism of financial disclosure.
Derek Magness, managing director of Chevron’s Eurasian Business Unit, and Magzum Mirzagaliyev, chairman of KMG, signed a memorandum of agreement in the Kazakh capital, now called as Nur-Sultan.
“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.
At the UN Climate Ambition Summit, Kazakh President Kassym-Jomart Tokayev announced Kazakhstan’s ambition to attain carbon neutrality by 2060, he said.
“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.