BAKU, Azerbaijan, November 12
By Nargiz Sadikhova - Trend:
Kazakhstan’s KazMunayGas (KMG) National Company has approved the Development Strategy for 2022-2031, Trend reports with reference to KMG.
For the next ten years, the growth of the company will be ensured by the efficiency of current production, the introduction of modern energy-saving technologies and a reduction in the carbon footprint.
The strategy defines the main directions of development:
1. Building up the resource base, sufficient for both traditional activities and new promising areas;
2. Maximizing the benefits from oil production, transportation, refining and marketing activities and increasing the efficiency of the existing value chain;
3. Availability of access to cheap raw materials determines oil and gas chemistry as a new growth point for KMG through the creation of new oil and gas chemical facilities;
4. Sustainable development in all areas and progressive reduction of the carbon intensity of production.
In addition, the KMG Board of Directors approved the Low-Carbon Development Program for 2022-2031, which determines the Company's climatic ambitions, main approaches and measures to reduce the carbon footprint.
In particular, by 2031, KMG aims to reduce carbon dioxide emissions by 15 percent from the 2019 level (1.6 million tons of CO2) through energy efficiency and energy saving measures, as well as the use of renewable energy sources.
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