Chairman of KazMunayGas meets with the management of LanzaJet in the USA

Chairman of the Management Board of JSC NC KazMunayGas (KMG) Askhat Khassenov during his business visit (August 5-7) to the United States held a meeting with the CEO of the American technology company LanzaJet Jimmy Samartzis. The parties discussed the matters of strategic partnership for the production of environmentally sustainable aviation fuel (SAF) in Kazakhstan.

Mr. Khassenov thanked LanzaJet for the invitation to the USA and the opportunity to tour the LanzaTech laboratory in Chicago. He noted that KMG aims to reduce its carbon footprint by 15% by 2031 compared to 2019 levels, and developing the country’s biofuels market will support Kazakhstan’s goal of carbon neutrality. “Currently, the global demand for SAF is increasing. Accordingly, our company is considering SAF production in Kazakhstan,” said the Chairman of KazMunayGas.

In turn, CEO of LanzaJet Jimmy Samartzis emphasized the importance of Kazakhstan’s initial steps towards producing environmentally friendly jet fuel and expressed readiness to provide full technological support. LanzaJet specializes in SAF production technology from ethanol (“ethanol-to-jet” or “alcohol-to-jet”) and has long-term off-take agreements with major airlines. In January 2024, the company launched the world’s first commercial-scale LanzaJet Freedom Pines Fuels plant for SAF production from ethanol.

A memorandum of cooperation was signed as a result of the visit.

For reference:

SAF (Sustainable Aviation Fuel) is a sustainable aviation fuel developed as an alternative to conventional jet fuel. It represents a promising tool for decarbonization of the aviation industry. SAF can be derived from bioethanol (ethanol), which is produced from plant and other renewable sources. It reduces carbon emissions by 80% compared to traditional jet fuel. Under the CORSIA program, the global aviation industry must limit total CO2 emissions to 2019 levels. The Nordic countries, Israel, the US and Australia are planning significant increases in the use of SAF by 2050. In Europe, all jet fuel must contain 2% SAF from 2025 onwards, and the use of eco-friendly jet fuel must rise to 63% by 2050.

Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Economy Compare journalist was involved in the writing and production of this article.

Vehement Finance News Network