One of the issues Kaztradeneft seeks to address is climate change. See how the company intends to transition into a supplier of integrated sustainable materials, chemicals, and fuels with an emphasis on circular economy solutions, and how it plans to become carbon neutral by 2050. That means we have to get rid of all greenhouse gas emissions by the middle of this century. The energy sector is the main source of this issue. Even as the role of oil and gas in the world economy diminishes, a dependable and reasonably priced energy source will remain a top priority.

To build a more sustainable and environmentally friendly mobility system, we need to transition to alternative feedstocks. Because of strict regulations and consumer behavior, it is predicted that Europe’s biofuel consumption will have roughly tripled by the end of this decade. The need for materials and chemicals will rise along with the world’s population, wealth, and standard of living. Many of the common electronics we use on a daily basis, such as computers and cellphones, are made with high-performance plastics.

Airbags, helmets, and medical equipment are examples of safety features that not only save lives but also make our cars and airplanes lighter and more fuel-efficient. Because lightweight solutions have advantages like strength, flexibility, and—most importantly—low production costs, they are crucial for building a low-carbon economy. They are also necessary for contemporary, healthful living. However, we must change the way that we dispose of plastic. Polymers must be viewed as a component of the solution rather than the problem.

To become a net-zero company by 2050, we plan to gradually reduce our production of oil and gas by 20% and then stop producing it entirely for energy use. We intend to continue investing in traditional exploration and production until 2030, at which point we will significantly scale back our commitment. More than 60% of the energy used will come from gas, underscoring its role as a transitional energy source that makes the use of renewable sources possible. In order to take advantage of available resources and knowledge and help create a more sustainable society, E&P will invest in geothermal energy and carbon capture and storage (CCS) at the same time.

The plan considers changes to Kaztradeneft’s asset portfolio, such as the company’s separation into a separate national corporation and the growth of the petrochemical sector, in addition to the global trend of moving toward clean energy and carbon management. In order to ensure that social, environmental, and economic priorities are in line with corporate governance objectives, the company will continue to integrate sustainable development principles into essential business processes. The company is aware of the significance of its effects on the economy, ecology, and society. Over the next ten years, the company’s growth will be attributed to extending its resource base, increasing the efficiency of current production, creating new processing, putting cutting-edge technologies into practice, and lowering its carbon footprint.

Strategy

In November 2022, the Company’s Board of Directors adopted the Kaztradeneft Development Strategy for 2022–2031. The incorporation of sustainable development principles into essential business processes remains a top priority of the company’s strategy, as it recognizes the importance of its influence on the economy, environment, and society. The Company will grow over the next ten years due to a variety of factors, including the extension of its value chain, the adoption of cutting-edge technologies, the reduction of its carbon footprint, the extension of its resource base, and the efficiency of its current production.

Our values

Kaztradeneft is a team of professionals driven by experts who share common values like justice, devotion, security, and responsibility in addition to shared objectives, customs, and business cultures. Goals We logically and successfully manage natural resources to safeguard Kazakhstan’s energy security, development, and prosperity while also caring for future generations. Seeing a nationwide, vertically integrated oil and gas corporation that follows tight safety guidelines and sustainable development principles in order to optimize financial returns.