Novatek, Siemens in carbon-cutting LNG production pact
Russia’s largest independent natural gas producer Novatek signed a strategic partnership and cooperation deal with Siemens Energy.
Under the agreement, the two companies plan on jointly developing LNG production solutions.
The pair will also cooperate on solutions to produce electricity, hydrogen and other products in a push to maintain sustainable development initiatives.
The move is in line with the companies’ goals to reduce their respective carbon footprints and increase environmental efficiency.
As part of the agreement, the parties will commence implementing a project to replace natural gas used as fuel 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.
“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,” he said.
Additionally, the collaboration with Siemens Energy to decarbonize Novatek’s LNG production will contribute significantly to the mitigation of climate change.
This is of paramount importance to reduce Novatek’s carbon footprint in the Arctic ecosystem, Mikhelson said.