Gulf Organisation for Research and Development (Gord) signed a memorandum of understanding with Kuwait National Petroleum Company (KNPC) to establish collaboration for recognition of carbon reduction projects and issuance of carbon credits.
The MoU was signed by Dr Yousef al-Horr, founding chairman, Gord and Shukri A al-Mahrous, consultant to the CEO of KNPC, on the concluding day of the sustainability summit.
Dr al-Horr said, “We are proud of our long-standing partnership with KNPC and the sustainability milestones we have achieved together in implementing GSAS and we hope to achieve similar best practices in the field of carbon neutrality through GCT. We also expect that recognition and carbon credit finance support to KNPC project will generate interest among regional players to come forward with carbon emission reduction projects and catalyse climate actions in the region.”
KNPC is the national oil refining company of Kuwait. Established in 1960, KNPC handles the responsibility of oil refining, gas liquefaction, and distribution of petroleum goods within the local market. KNPC will implement two grid-connected solar photovoltaic projects of total capacity of 24.5 MW, one at 45 locations in KNPC premises, and second in local market depots and 10 petrol stations. These projects are expected to reduce significant carbon emissions.
Gord and Kuwait National Petroleum Company officials exchange documents after signing the MoU.
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