On April 20th of the current year, the AIFC Green Finance Centre and the Ministry of Ecology, Geology, and Natural Resources held a seminar with the invited expert - Ray Leonard.
Ray Leonard - president of Anglo Eurasia, an oil and gas consulting firm - has proposed several initiatives aimed to reduce greenhouse gas emissions through the application of advanced technologies in the energy sector.
Thus, the initiative proposed by Digital Stream Energy Inc., aims to reduce greenhouse gas emissions using flare gas in the fields, converting it into electricity that is used to power energy-intensive computer processors, as a result of which digital energy is sent by the satellite for further commercial use.
The second initiative aims to reduce greenhouse gas emissions from coal combustion in coal-fired power plants by adapting the technology of the combined cycle plant and carbon capture and storage.
Another initiative proposed by Energy Bridge Partners LLC is to take an innovative and patented approach to use the financing derived from the product sharing agreement as a guarantee for green energy projects.
During the presentation, the Ministry of Ecology, Geology, and Natural Resources expressed their readiness to assist in the implementation of the initiatives of the international expert Ray Leonard, which are consistent with the goals of development and the transition of Kazakhstan to a green economy and are important for the country to achieve the carbon neutrality.
These initiatives were also supported by interested state bodies and akimats of regions, as well as Nur-Sultan and Shymkent cities. Based on the results of the webinar, the need for further implementation of initiatives together with the Kazakh side will be determined.
Reference:
The Astana International Financial Centre was created by the initiative of the First President of the Republic of Kazakhstan, Leader of the Nation, Nur-Sultan Nazarbayev as part of the “100 steps to implement five institutional reforms” national program. The Centre’s development strategy until 2025 was approved by the Management council of the AIFC during the council’s meeting on July 2, 2020. In accordance with the strategy, the vision of AIFC is in becoming the leading financial centre in the region that includes Central Asia, the Caucasus, EAEU countries, western China, Mongolia, and Eastern Europe.
The mission of the AIFC is in assisting the sustainable and long term development of the region. As the head of state Tokayev noted, “AIFC, with its unique opportunities, can act as a universal platform that connects the countries in the region.”
The strategic directions for the sustainable development of the AIFC include the development of a circular economy, financial technologies, and “digital financial centre.” https://aifc.kz/
Ray Leonard holds a master's degree in geology, held senior positions in companies such as Amoco, FIOC, the Russian oil company Yukos, the Hungarian national oil company MOL, the energy company of Kuwait and recently was the head of the oil company Hyperdynamics, oil and gas exploration.
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