NOVATEK and Rosatom have signed a Memorandum of Understanding (MOU) on cooperation in decarbonisation.
The MOU envisages that NOVATEK Group entities, particularly the Ust-Luga Gas Condensate Fractionation and Transshipment Complex, will purchase electricity generated at Rosatom’s wind farms. Purchasing green energy will help NOVATEK to reduce the carbon footprint of its products in accordance with international standards.
According to the MOU, the parties will also explore opportunities of the implementation of Rosatom’s engineering solutions in the production of LNG, low-carbon hydrogen and ammonia, as well as power generation and storage.
NOVATEK and the Rosatom State Corporation share long-standing and successful cooperation in creating new high-tech types of equipment for the LNG industry. Their experience of joint work lays the foundation for further development of cooperation in decarbonisation, including the implementation of prospective projects in green energy and low-carbon products.
Leonid Mikhelson, NOVATEK’s Chairman of the Management Board, said, “We pay particular attention to reducing the carbon footprint of our products, whereby we make them more competitive and contribute to preventing the global climate change.”