The Agreement builds on the cooperation of NOVATEK and Fortum under the Memorandum of Understanding that the Parties signed at the St.Petersburg International Economic Forum in June 2021.
Leonid Mikhelson, Chairman of NOVATEK's Management Board, said:
- Using green energy to power natural gas liquefaction is an effective way to reduce the LNG's carbon footprint
- This is an emerging area of activity for us and we are considering various ways of using wind power in our LNG projects
- Buying 3rd-party renewable energy is an economically efficient solution that helps reduce carbon emissions in the region as a whole and contribute to further development of wind farms in Russia
Purchasing the green electricity will allow NOVATEK to reduce Scope 2 carbon footprint of the LNG produced by the Vysotsk plant.
Cryogas-Vysotsk’s design capacity is 660 000 tonnes of LNG per annum, and its infrastructure includes a 42 000 m3.
LNG storage tank and an offloading jetty capable of handling LNG carriers with a capacity of up to 30 000 m3.
NOVATEK acquired a 51% participation interest in Cryogas-Vysotsk in July 2017.
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