KazMunayGas CEO Delineates Key Strategic Goals During Baku Energy Week Event
A FRESH APPROACH
ASTANA - KazMunayGas (KMG) CEO, Askhat Khassenov, shed light on KMG's strategic goals during the Baku Energy Forum, an event marking Baku Energy Week from June 2 to 4.
👉 Unlike your average joe, Khassenov knows a thing or two about balancing energy security for Kazakhstan with the demands of the global energy shift. And guess what? KMG is all aboard this transition, promising to continue its hydrocarbon gig while investing in eco-friendly alternatives.
🎉 To stay competitive, KMG is focused on improving operational efficiency. They're winning the game by optimizing processes, embracing digital tech to cut costs, and enhancing reliability. In the traditional energy sector, geological exploration remains a critical area of interest, especially as KMG partners with top international players.
🏭 Petrochemicals and technology aren't just old news; they're essential for long-term economic growth. The development of petrochemicals is on KMG's priority list.
👉 Now, let's talk about the low-carbon future for Kazakhstan. KMG is backing the country's green energy dreams with investments in large-scale renewable and alternative energy projects. Two examples include the construction of a 247-megawatt (MW) hybrid power plant in Mangystau Region and a one gigawatt (GW) wind power plant in the Zhambyl Region.
🌐 Hydrogen energy development is another front where KMG is making moves. The CEO highlighted the creation of Kazakhstan's first competence center for hydrogen technologies, KMG Engineering LLP. In Atyrau, a hydrogen tech lab is launching a pilot project to produce green hydrogen.
These initiatives aren't just about reducing emissions; they're about strengthening Kazakhstan's technological base. In other words, KMG's contributions are crucial to Kazakhstan's energy transition journey.
🌱 Now, here's a bit more about Kazakhstan's broader energy transition strategy: the country is all about expanding renewable energy capacity, aiming to commission over 8.4 GW of renewable capacity by 2035[1]. They're also planning to build their first nuclear power plant with a capacity of over 2.4 GW by 2035[5].
🌍 Kazakhstan has bigger ambitions than just going green within its borders. They're looking to enhance international cooperation, attracting investment from countries like the U.S. to deepen green energy collaboration[4]. And let's not forget their quest for energy diversification and sovereignty, aiming to reduce dependence on fossil fuels and external energy sources[5].
- KMG's strategic goals, as discussed by CEO Askhat Khassenov, include investing in renewable and alternative energy, with plans for large-scale projects such as a 247-megawatt hybrid power plant and a one gigawatt wind power plant.
- The transition towards a low-carbon future is a key focus for Kazakhstan, and KMG is contributing to this through initiatives like the development of hydrogen energy and the creation of Kazakhstan's first competence center for hydrogen technologies.
- Kazakhstan's broader energy transition strategy involves expanding renewable energy capacity, commissioning over 8.4 GW of renewable capacity by 2035, and building their first nuclear power plant by 2035, as well as aiming for energy diversification and sovereignty by reducing dependence on fossil fuels and external energy sources.
