Russia has inked a new agreement to support the development of hydrogen, ammonia, renewable energy and carbon capture, utilisation and storage projects to push forward a decarbonised future.

PAO NOVATEK and the Japan Bank for International Cooperation are behind such effort, having today (2nd September) inked a strategic cooperation deal as part of the Eastern Economic Forum.

The introduction of ammonia and hydrogen production projects in the Yamal Peninsula have already been put forward as part of the agreement. It is expected that similar projects will soon follow.

On the plans, Leonid Mikhelson, NOVATEK’s Chairman of the Management Board, said, “We are actively studying options to further reduce our current low carbon footprint from NOVATEK’s LNG production by using renewable energy sources, carbon capture and storage and hydrogen-based fuels at our LNG projects.”

“This strategic cooperation agreement provides opportunities for us to work with Japanese companies and financial institutions on developing our low-carbon solutions, attracting investments and expanding the range of suppliers of state- of-the-art equipment and technologies.”

“Moreover, it facilitates opportunities for us to market our clean fuel products to a wider range of consumers from Japan to reduce the total carbon emissions.”