Gazprom Neft and Japanese Mitsui signed a MoU on decarbonisation projects in Russia

St.Petersburg, February 17 - Neftegaz.RU. Japanese conglomerate Mitsui has teamed up with Gazprom Neft in an agreement to promote the use of CCS in Russia and other countries where the 2 companies can collaborate.
The MOU also covers the pursuit of potential collaborative projects between Mitsui and Gazprom Neft in relation to decarbonization business.

Experts estimates suggest that in pursuing the global challenge of reducing emissions by 35 billion tonnes of CO₂, some 5 to 10 million of these emissions should be achievable by deploying CCUS technology.
In this regard , we can say a market worth hundreds of billions of dollars being created and Russia is uniquely placed to take it’s share here.
Russia is home to about 20% of geological capacity for CO₂ burial worldwide.

Gazprom Neft and Mitsui also plan to develop integrated projects on producing blue hydrogen and using alternative fuels in sea and river transport.

Mitsui said, the company aims to further deepen the strategic partnership with Gazprom Neft and will work to provide low-carbon solutions to the entire energy value chain, endeavoring to create a sustainable and eco-friendly society.

Gazprom Neft is developing partnerships with Russian and international companies covering CO₂ emissions reduction, hydrogen energy and cleaner fuels.