Kazmunaygas, SOVICO Group Discuss Sustainable Aviation Fuel Production Projects
Date
9/10/2024 3:09:22 AM
(MENAFN- Trend News Agency)
ASTANA, Kazakhstan, September 10. KazMunayGas
(KMG, the national oil and gas company) and SOVICO Group (a leading
investment group in Vietnam) have discussed projects for the
production of sustainable Aviation fuel, KMG told Trend .
Discussions on this topic took place between the Chairman of the
Board of KMG Askhat Khassenov and the Chairman of the Board of the
Vietnamese company Nguyen Thanh Hung.
Following the meeting, the parties agreed to create special
groups between KazMunayGas and SOVICO Group for a more detailed
study of the issues discussed.
In August last year, during the official visit of President of
Kazakhstan Kassym-Jomart Tokayev to Vietnam, a memorandum of
understanding was signed between KMG and SOVICO. The document
opened the door to cooperation in the fields of geological
exploration, aviation fuel supplies, and other areas.
According to the concept of low-carbon development at
Samruk-Kazyna (Sovereign Wealth Fund), the share of SAF consumption
by the airline will gradually increase: 5 percent by 2040, 15
percent by 2050, and 25 percent by 2060.
In addition to this, KazMunayGas' three large oil refineries are
ready to produce Jet A-1 aviation fuel, which will allow it to be
blended with SAF in the future.
Meanwhile, Kazakhstan has a backup plan to speed up the
transition to new fuel. Previously, Kazakh Air Astana Airlines and
PetroChina International Kazakhstan (engaged in wholesale supplies
of petroleum products) signed a Memorandum of Strategic
Partnership. As part of the document, the parties intend to
cooperate on the supply of jet fuel as well as work on creating
infrastructure and transitioning to Jet A-1.
MENAFN10092024000187011040ID1108655589
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.