Chevron and Kazmunaygas partner on Kazakhstan carbon reduction

Chevron Corp., through its subsidiary Chevron Munaigas Inc., and Kazakhstan national oil and gas company KazMunayGas (KMG) have signed an MoU to explore potential lower-carbon business opportunities in Kazakhstan.

Chevron and KMG plan to evaluate the potential for lower carbon projects in areas such as carbon capture, utilization, and storage; hydrogen; energy efficiency and methane management; and carbon financial disclosure methodology.

At the UN Climate Ambition Summit, Kazakhstan President Kassym-Jomart Tokayev stated that Kazakhstan intends to achieve carbon neutrality by 2060. KazMunayGas, in turn, has set a goal to reduce its carbon footprint 15% compared with 2019 levels by 2031 and is going to take further actions under the Paris Agreement and Kazakhstan’s Doctrine of Carbon Neutral Development.

The collaboration between Chevron and KMG is part of the efforts from both companies to support Kazakhstan’s efforts to achieve carbon neutrality by 2060.