MOSCOW (MRC) -- The growing attention of investors and lenders to ESG factors puts additional pressure on oil and gas companies, which may face difficulties in attracting investments in the future, said, said Globuc.
Energy transition and decarbonisation of the downstream industry will be among the topics explored at the Downstream Central Asia & Caspian conference in Tashkent. It is impossible to implement downstream projects without attracting investment, and today, sustainability of the production process and decarbonisation efforts of a future project have become one of the decisive factors in obtaining project financing.
Within the framework of the Paris Climate Agreement, Central Asian and Caspian countries have committed to reduce their carbon dioxide emissions. In particular, by 2030 Kazakhstan will reduce them by 15%, Uzbekistan by 35% and Azerbaijan plans to cut emissions by 40% or more by 2050.
National oil and gas companies of the region have already begun to reduce their carbon footprint. Uzbekneftegaz and Technip Energies discussed the prospects and opportunities for cooperation in the field of decarbonisation of the oil and gas industry; KazMunayGas and the European Bank for Reconstruction and Development signed a Memorandum of Understanding on strategic cooperation in the field of decarbonisation. BP has submitted a roadmap for the decarbonisation of the energy sector to the government of Azerbaijan.
At Downstream Central Asia & Caspian, the largest downstream oil&gas event in the region, on the 20th of October as part of the "Energy Transition and Decarbonization in Central Asia" session, participants will discuss what the refineries of the future will be like in a world with a low-carbon economy and the role of hydrogen in the energy transition.
Azamat Kozhanov, CEO at Kazakh Invest, and Ainur Tumysheva, Investment Director at Svevind will talk about the largest hydrogen project in Central Asia, the Svevind Green Hydrogen project in Kazakhstan. Bilal Guliyev, General Director for Research, Development and Innovation at SOCAR Turkey will present a report on the role and importance of R&D and innovation in accelerating decarbonization of the petrochemical and oil refining industries.
Alexey Tyurikov, Vice President, Russia and CIS at AspenTech, will share innovations to achieve ambitious sustainable development goals while simultaneously achieving profitability targets.
Gennady Tarasov, Managing Director of Innovation and Marketingat at Kazgiproneftetrans will share information about an innovative project and the prospects of cryogenic technology.
Downstream Central Asia & Caspian is an annual industry business event. In 2022, the event will be held in Tashkent on the 19-20th of October 2022. The conference will bring together representatives of oil and gas processing and petrochemical companies in Central Asia and the Caspian region, as well as leading technology suppliers from all over the world.
The conference is organised by Globuc, an international event management company based in London. Globuc specialises in high-level business events in the energy and oil&gas sectors.
Earlier it was reported that the Uzbekneftegaz National Holding Company will increase the production capacity of the Shurtan Gas Chemical Complex (GCC) to approximately 505,000 tonnes of polymer products per year by the end of 2024.