According to the MOU, the Parties intend to cooperate in carbon capture, utilization and storage solutions, hydrogen production technologies and the use of hydrogen as a clean-burning fuel, as well as develop new products to be used in low-carbon technologies.
Leonid Mikhelson, NOVATEK’s Chairman of the Management Board noted:
- NLMK is one of the largest industrial consumers of our natural gas;
- expanding our joint activities with our customers and suppliers in reducing our carbon footprint is of strategic importance to us;
- we are undertaking further work to develop low-carbon technologies in Russia to reduce greenhouse gas emissions and contribute to achieving the global emission goals as outlined in the Paris Climate Agreement.
The company's Strategy considers the increasing role of LNG in the future global energy mix by replacing other types of fossil fuels (coal, fuel oil and diesel), which reduces greenhouse gas and air pollutants emissions.