At the Russian Energy Week international forum, Leonid Mikhelson, Chairman of the Management Board of NOVATEK, and Alexey Likhachev, Director General of Rosatom, signed a Memorandum of Understanding  on cooperation in decarbonization.

The MOU envisages that NOVATEK Group entities, in particular, the Ust-Luga Gas Condensate Fractionation and Transshipment Complex, will purchase electricity generated at Rosatom’s wind farms. Purchasing the green energy will help NOVATEK to reduce the carbon footprint of its products in accordance with international standards.

The parties intend to cooperate in the development of wind power generation in harsh conditions of the Arctic. According to the MOU, the parties will also explore opportunities of implementation of Rosatom’s engineering solutions in the production of LNG, low-carbon hydrogen and ammonia as well as power generation and storage.

“We pay particular attention to reducing the carbon footprint of our products, whereby we make them more competitive and contribute to preventing the global climate change,” noted Leonid Mikhelson, NOVATEK’s Chairman of the Management Board. “NOVATEK and the Rosatom State Corporation share a long-standing and successful cooperation in creating new high-tech types of equipment for the LNG industry. Our experience of joint work lays the foundation for further development of cooperation in decarbonization, including the implementation of prospective projects in green energy and low-carbon products.”