According to preliminary estimates, the implementation of energy efficiency measures and RES projects will reduce annual direct and indirect CO2 emissions by 1.6 million tonnes of CO2 by 2031, or by at least 15% of the 2019 level (10.7 million tonnes of CO2), including:
- through energy efficiency measures — reduction of CO2 emissions by 10% or 1.01 million tonnes,
- through the implementation of RES projects — reduction of CO2 emissions by 5% or 535 thousand tonnes.
It is also important to note the need to improve effectiveness of the energy management system and to prevent methane leaks and emissions.
Currently, we are dealing with the following areas for the implementation of renewable energy projects:
- Ownership of renewable energy assets through:
- acquisition of a share in operating renewable energy assets (wind and solar power plant projects),
- construction of new RES-based power plants.
This approach will enable development of renewable energy competencies, following suit of other global oil and gas companies, and will increase the energy independence of our assets.
- Conclusion of direct contracts with the RES owners for the purchase of “green” energy.
KMG can become a consumer of “green” renewable energy by signing an off-take contract with major potential investors. This approach will make it possible, without attracting major investments in capital construction, to partially replace traditional electricity consumption with renewable energy sources, thereby reducing the carbon footprint.
- The construction of small-scale distributed and autonomous generation of renewable energy sources at the KMG Group’s facilities will enable application of renewable energy technologies in the public utilities sector and in operations (preheating of oil during production/transportation, lighting, hot water supply, etc.).
The possibility of implementing a pilot Carbon Capture, Utilisation and Storage project is being explored as another medium to long-term decarbonisation measure. The importance of this technology is its ability to reduce emissions throughout the energy system.