As part of the Eastern Economic Forum, NOVATEK and the Japan Bank for International Cooperation (JBIC) signed a Strategic Cooperation Agreement on low-carbon projects.

The Parties intend to cooperate on projects to produce hydrogen and ammonia, carbon capture, utilization, and storage technologies, as well as renewable energy projects in Russia, including ammonia and hydrogen production projects in the Yamal Peninsula.

“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,” noted Leonid Mikhelson, NOVATEK’s Chairman of the Management Board. “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.”