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Chevron and KMG to explore lower carbon opportunities

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Chevron Corporation and KazMunayGas (KMG) have announced a MoU to explore potential lower carbon business opportunities in Kazakhstan.
Through its subsidiary Chevron Munaigas, Chevron and KMG plan to evaluate the potential for lower carbon projects in areas such as carbon capture, utilization, and storage (CCUS); hydrogen; energy efficiency and methane management; and carbon financial disclosure methodology.
The MoU was signed by Derek Magness, managing director for Chevron’s Eurasian Business Unit, and Magzum Mirzagaliyev, chairman of the Management Board of KMG.
“Low carbon is a new area for us, and we believe that Chevron’s wide experience in implementing lower carbon technologies and practices in the oil and gas industry will contribute to our capabilities and lead to joint lower carbon projects. We highly appreciate the partnership that has developed over the years of Chevron’s presence in our country,” Mirzagaliyev said.
“Chevron has been investing in Kazakhstan for close to three decades. We are proud of our history of partnership and are committed to investing in the country’s energy future. This MoU with KazMunayGas marks a new chapter in our company’s efforts to support the development of Kazakhstan’s energy sector,” Magness said. “We firmly believe that we can play an important role in the country’s energy transition and achievement of its carbon-reduction targets. Through our collaboration with KMG, we hope to contribute to providing affordable, reliable, ever-cleaner energy, and help the industries and customers who use our products to advance their lower carbon goals.”
The collaboration between Chevron and KMG is part of the efforts from both companies to support Kazakhstan’s target vision to achieve carbon neutrality by 2060.