Low-carbon development is taking its firm place on the global political, investment and trade agenda. Amid this, not only coal power plants but oil and gas companies as well have to think of the energy transition.
Given the importance of the climate agenda and tougher carbon regulation, KazMunayGas has developed a clear understanding of the corporate low-carbon development strategy, which is set out in the relevant Programme.
The Programme provides a unified basis for low-carbon development as an integral part of corporate governance and structures the Company’s activities aimed at reducing its carbon footprint.
The main goal is to determine KMG’s climate ambitions, systematise main approaches and measures to reduce the carbon footprint by analysing the existing potential, defining key development areas and enhancing the preparedness.
Considering the country’s ambitions and expectations, KMG has set itself a goal to reduce carbon dioxide emissions by 15% by 2031 against the 2019 level, or by 1.6 million tonnes of CO2.
To achieve this goal, KMG plans to enhance energy-efficient and energy-saving activities and build up the potential for using RES for its process-related purposes.
Apart from the mentioned activities, KMG has determined additional decarbonisation measures that could be prospective for the Company’s long-term low-carbon development strategy.
- implementation of carbon capture, storage and utilisation projects (CCUS);
- hydrogen energy development;
- forest climate projects.
The Company will implement pilot projects in these areas to enhance competencies and own potential for further scaling-up, subject to favourable conditions. These projects may provide for further reduction of the Company’s greenhouse gas emissions in the long term.
KMG’s 2022-2031 Low-Carbon Development Programme has been approved by the Company’s Board of Directors.