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Rosneft, Equinor to develop low-carbon technologies and reduce carbon footprint from their joint projects in Russia

Norwegian and Russian energy giants signed an agreement on collaboration in carbon management

Rosneft, Equinor to develop low-carbon technologies and reduce carbon footprint from their joint projects in Russia

Source: Rosneft

Moscow, September 29 - Neftegaz.RU. Rosneft and Equinor have agreed to cooperate in carbon management, the companies announced today.
Aiming to support the goals of the Paris Agreement, the companies will join forces to develop low carbon solutions and reduce the carbon footprint from joint projects.

The companies will share experience and explore opportunities within such areas as:
  • reduction in flaring and methane emissions
  • energy efficiency and reporting of greenhouse gas emissions
  • opportunities for the use of renewables
  • carbon capture, utilization and storage and low-carbon hydrogen solutions
  • development of hydrogen business (blue and green)
Equinor has set a clear ambition to become a net zero energy company by 2050.
The company also sets interim ambitions, aiming to reduce net carbon intensity with 20% by 2030 and 40% by 2035.

Al Cook, Equinor's executive VP for Exploration & Production, said:
  • Equinor aims to proactively support emissions reductions wherever we invest based on our decades of experience from Norway
  • We are happy to work together with Rosneft and share best practice to address climate change
Equinor (previously known as Statoil) has been active in the Russian market for 30 years.
According to its website, the company has 70 employees and produces approximately 10,000 barrels of oil equivalent per day from its assets in the country.

In 2012 Equinor entered into a strategic cooperation with Rosneft, it covers several joint projects:
  • the North Komsomolskoye pilot project for viscous oil development in West Siberia
  • a pilot project for the development of Domanik limestone formation in the Samara region
  • offshore exploration. Equinor has also a 49% stake in AngaraOil
  • the holder of 12 conventional onshore exploration and production licences in Eastern Siberia
Rosneft is the 1st company in Russia to prepare a carbon management plan out to 2035 featuring targets for reducing greenhouse gas emissions.

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