PAO NOVATEK and NLMK will cooperate on carbon capture, utilisation and storage solutions, hydrogen production technologies and the use of hydrogen as a clean-burning fuel, as part of a new partnership.
The two companies today (12th Jan) signed a Memorandum on Cooperation for the agreement which will look to reduce greenhouse gas emissions through the development of new products to be used in low-carbon technologies.
“NLMK is one of the largest industrial consumers of our natural gas. Expanding our joint activities with our customers and suppliers in reducing our carbon footprint is of strategic importance to us,” said Leonid Mikhelson, NOVATEK’s Chairman of the Management Board.
“We are undertaking further work to develop low-carbon technologies in Russia to reduce greenhouse gas emissions and contribute to achieving the global emission goals as outlined in the Paris Climate Agreement”.