NOVATEK and Siemens Energy sign agreement to decarbonize LNG production
Today, PAO NOVATEK (“NOVATEK” and/or the “Company”) and Siemens Energy signed a Strategic Partnership and Cooperation Agreement (“Agreement”).
According to the Agreement, the Parties intend to jointly develop and implement high-tech solutions to produce LNG, electricity, hydrogen and other products to maintain sustainable development initiatives and achieve the Parties' goals to reduce their carbon footprint and increase environmental efficiency.
As part of the Agreement, the Parties will commence implementing a project to replace fuel natural gas used in the production of electricity and LNG with carbon-neutral hydrogen.
“We have a long and successful track record of mutual cooperation with Siemens Energy who is a key equipment supplier for both our Yamal LNG and Arctic LNG 2 projects,” noted Leonid Mikhelson, NOVATEK’s Chairman of the Management Board. “Our strategy to expand LNG production in the Arctic region is based on utilizing state-of-the-art technological solutions that meet and/or exceed stringent environmental requirements. Our further collaboration with Siemens Energy to decarbonize our LNG production will contribute significantly to the mitigation of climate change, which is of paramount importance to reduce our carbon footprint in the Arctic ecosystem.”
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