KazMunayGas and Shell Agree on Cooperation in Carbon Capture, Utilization and Storage
JSC “NC KazMunayGas (KMG) and Shell Kazakhstan B.V. (Shell) signed today a Memorandum of Cooperation in the area of CO2 Capture Utilization and Storage Technology (CCUS). The Signing Ceremony was attended by KMG Board Chairman Alik Aidarbayev and Senior Vice President and Shell Kazakhstan Country Chair German Burmeister.
The Memorandum provides for joint exploration of potential opportunities for implementation of the CCUS Pilot Project seeking to identify and develop the main criteria for carbon capture and utilization.
The Memorandum aims to strengthen the long-term mutually beneficial cooperation of the parties and to support Kazakhstan in its efforts to fulfill the commitments on reduction of greenhouse gas emissions undertaken by the Republic as part of the Paris Agreement.
As part of the Memorandum signed, Shell technical experts will share their international experience in implementing similar CCUS projects.
“The Head of State, Kassym-Zhomart Tokayev, has set an important mission to achieve the goal of carbon neutrality by 2060. JSC KMG upholds this goal by focusing on carbon capture, utilization and storage technologies (CCUS), as they play a vital role in this issue. Shell is vastly experienced in this field. Today's signing of the Memorandum stands as milestone in our strategic partnership”- Mr. Aidarbayev noted.
“We highly value the mutual understanding and cooperation developed over the years of Shell's presence in the Republic of Kazakhstan. Our company intends to strengthen its strategic partnership with KMG and the Republic of Kazakhstan. We are delighted that the Memorandum signed with KMG makes it possible to further contribute to the development of the country's oil and gas sector and support Kazakhstan’s efforts in its energy transition, an important task both for our companies and the country.”- Mr. Burmeister stated.
Republic of Kazakhstan is currently developing the country’s Low-Carbon Development Strategy until 2060. To that end and recognizing the importance of the climate agenda, KMG has also started elaborating a corporate Low-Carbon Development Program until 2031 setting target indicators, identifying key measures to achieve and explore the possibilities of using decarbonization technologies at their production assets.