Kazmunaygas, EBRD Discuss Co-Op In Field Of Low-Carbon Projects

(MENAFN- Trend News Agency) ASTANA, Kazakhstan, June 7. Kazakhstan's KazMunayGas (KMG, the national oil and gas company) and the European bank for Reconstruction and Development (EBRD) have discussed the prospects for cooperation on the implementation of low-carbon projects, Trend reports.

Discussions took place between the Chairman of the Board of the KMG Askhat Khassenov and acting Managing Director for Central Asia of EBRD Hüseyin Özhan.

An example of how KMG and the EBRD are working together to strengthen partnerships is the Tazalyq environmental project, which is being carried out at the Atyrau oil refinery. Improving the local environment is a goal of the project, which entails restoring evaporation fields and updating mechanical wastewater treatment facilities spread out over 860 ha.

The parties also discussed the prospects for cooperation on a project for a feasibility study of the market for environmentally friendly aviation fuel and the possibility of its production in Kazakhstan, which could become a new direction in the country's environmental agenda.

Meanwhile, the EBRD's current project portfolio in Kazakhstan reaches 2.8 billion euros as of February 29, 2024, based on the implementation of 119 active portfolio projects.

In addition, the bank has invested about 10 billion euros in 317 projects in Kazakhstan. Kazakhstan is the EBRD's largest and longest-running Central Asian banking business.


Trend News Agency

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