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NOVATEK inks renewable power agreement with Finnish Fortum Oyj

Novatek approved a new set of 2030 environmental targets in 2020. It aims to lower its methane emissions across production, processing and LNG by 4%, its air pollutants by 20% and its upstream greenhouse gas emissions by 6%

NOVATEK inks renewable power agreement with Finnish Fortum Oyj

St.Petersburg, June 3 - Neftegaz.RU. As part of today’s St.Petersburg International Economic Forum, NOVATEK and Finland's Fortum signed a Memorandum of Understanding on cooperation in renewable power.
The MOU envisages that NOVATEK, including the Cryogas-Vysotsk LNG project in particular, will purchase electricity produced by Fortum’s renewable power facilities in Russia.
Cyrogas-Vysotsk is a medium-tonnage LNG project located in the port of Vysotsk, Leningrad Region of Russia on the Baltic Sea.
The LNG is mainly exported to the countries of the Baltic Sea Region, including Finland, Sweden, Lithuania and Estonia.

Using green energy produced by wind farms owned by Fortum and its joint ventures at the company’s LNG plant in Vysotsk will enable NOVATEK to offer its LNG customers a more sustainable product with a reduced Scope 2 carbon footprint (purchased electricity).

Leonid Mikhelson, NOVATEK’s CEO said:
  • Our LNG carbon intensity is already among the lowest globally and we are working on further reducing our emissions
  • Purchasing green, renewable energy to power our facility represents one of the most promising mitigation solutions
  • Our cooperation with Fortum, the largest investor in Russian renewable energy projects, will allow us to contribute to climate change mitigation and increase the competitiveness of our LNG in international markets
Fortum has set up separate partnerships with Russian nanotechnology company Rusnano and the Russian Direct Investment Fund (RDIF).
With the JV partners, the Finnish company installed 8 wind farms totalling 670 MW in Russia.

To read the news in Russian

Author: Anna Ignatjeva

Source : Neftegaz.RU

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