Qazaq Refinery seeks to address the issues of a changing world and climate change. See how the company intends to achieve carbon neutrality by 2050 and transition into an integrated supplier of sustainable fuels, chemicals, and materials with a strong emphasis on circular economy solutions. As a result, we must have reduced greenhouse gas emissions to zero by the middle of this century. The energy sector is at the heart of this issue. As oil and gas become less important in the global economy, ensuring a stable and inexpensive energy supply will remain a priority.

To develop a greener and better mobility system, we must migrate to alternate and sustainable feedstocks. Because of strict regulations and consumer behavior, biofuel consumption in Europe is expected to roughly triple by the end of this decade. Chemical and material demand will continue to rise as the world’s population grows, prosperity rises, and living standards rise. Many of the everyday electronics we use, such as computers and cellphones, are constructed of high-performance plastics.

They make our cars and planes lighter and more fuel-efficient, and they save lives by including safety features such as airbags, helmets, and medical equipment. Because of its features such as strength, flexibility, and, most importantly, low production costs, lightweight solutions are not only vital for modern healthy living, but they are also critical for building a low-carbon economy. We must, however, change the way we dispose of plastic. Polymers must be viewed as a component of the solution rather than a problem.

Moving from Fossil to Low-Carbon-Business

To reach our aim of becoming a net-zero firm, we will gradually lower our oil and gas production by 20% by 2050, and then completely cease producing oil and gas for energy use by 2050. We will continue to invest in traditional exploration and production until 2030, at which point our commitment will be significantly reduced. Gas will account for more than 60% of total energy consumption, highlighting its role as a transition energy that allows renewables to be utilised. Simultaneously, E&P will invest in geothermal energy and carbon capture and storage (CCS) in order to contribute to a more sustainable society by leveraging existing assets and expertise.

The plan considers changes in the Qazaq Refinery Gas asset portfolio, such as the growth of the petrochemical sector and the separation of Qazaq Refinery into a separate national corporation, as well as the global trend of clean energy transition and carbon management. The Company understands the significance of its impact on the economy, ecology, and society, and will continue to integrate sustainable development principles into key business processes to ensure that economic, environmental, and social priorities, as well as corporate governance objectives, are consistent. For the next 10 years, the Company’s growth will be secured by extending its resource base, increasing the efficiency of current production, creating new processing, introducing modern technologies, and lowering its carbon footprint.

Vision: A national vertically integrated oil and gas company committed to optimizing financial results while adhering to stringent safety requirements and sustainable development principles.

Mission: We develop natural resources in an efficient and prudent manner in order to ensure Kazakhstan’s energy security, progress, and prosperity while also considering future generations.

Four strategic goals have been set up in conjunction with the Qazaq Refinery.

• Sustainable development and gradual reduction in the carbon intensity of operations.
• Sufficient resource base to ensure the Company’s growth.
• Business diversification and product portfolio expansion.
• Improving the Company’s value chain efficiency.