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Chevron to Explore Low Carbon Project Opportunities in Angola

US-based energy corporation Chevron has agreed to explore several low carbon projects, including those related to hydrogen, biofuels, and carbon capture and storage, in Angola, Africa.

Chevron New Energies, a Chevron USA division, and the Angola Government have signed a Memorandum of Understanding (MoU) to explore the opportunities in the African country.

The partnership has also agreed to look to create a regional centre of excellence to incentivise and attract lower carbon investments in the region.

Jeff Gustavson, President of Chevron New Energies, hopes that the effort will provide affordable, reliable, ever-cleaning energy, and help the industries and customers advance their decarbonisation targets.

Chevron New Energies was launched in 2021 to focus on creating business lines to provide lower carbon solutions across the value chain, as well as advance lower carbon solutions and scale businesses in hydrogen carbon capture, utilisation and storage, and other low carbon opportunities.

Clay Neff, President of Chevron International Exploration and Production, said, “Chevron has been a major player in Africa for over a century and Angola is a key country for us. WE were one of the first US companies to enter the country, and we take great pride in continuing to be a steadfast and resilient partner.”

He adds that Chevron remains committed to supporting Angola in developing a low carbon future.

At the 26th United Nations Climate Change Conference (COP26), Angolan President João Lourenço, pledged to increase Angola’s renewable energy capacity to 70% of the country’s energy matrix by 2025.

Under its revised National Determined Contribution (NDC), Angola brought forward its target year for cutting emissions from 2030 in its first NDC to 2025, with the country aiming to reduce emissions up to 14% compared to business-as-usual, with a further 10% conditional on support.

Source : Gas World