Fortum to supply renewable power to Novatek’s Cryogas-Vysotsk LNG
Russia’s LNG producer Novatek signed a power purchase agreement for renewable electricity with the European energy company Fortum to supply Cryogas-Vysotsk LNG plant.
Cyrogas-Vysotsk is a medium-scale LNG project in the port of Vysotsk, Leningrad Region of Russia. The LNG from the plant mainly goes to the Baltic countries. The project’s design capacity is 660,000 tonnes of LNG per year. In addition, its infrastructure includes a 42,000 cubic meters LNG storage tank and an offloading jetty. Novatek acquired a 51 per cent participation interest in Cryogas-Vysotsk in July 2017.
Novatek signed this new agreement through its joint venture Cryogas-Vysotsk. The agreement builds on the cooperation of Novatek and Fortum under the memorandum of understanding from 2021.
In other words, Fortum will fully cover the electricity requirements of the Cryogas-Vysotsk LNG plant. It will also produce energy at Russian wind farms.
Buying green electricity will allow Novatek to reduce Scope 2 carbon footprint of the LNG from the Vysotsk plant.
“Using green energy to power natural gas liquefaction is an effective way to reduce the LNG’s carbon footprint,” said Leonid Mikhelson, chairman of Novatek’s Management Board, in conclusion.
“This is an emerging area of activity for us and we are considering various ways of using wind power in our LNG projects. Buying third-party renewable energy is an economically efficient solution that helps reduce carbon emissions in the region as a whole and contribute to further development of wind farms in Russia.”