Russia: CO2 Emissions Total Energies, Novatek Collaborate for Sustainable Solutions
Total Energies and Novatek have signed a MOU for reducing CO₂ emission resulting from the production of LNG. The companies will also work together to develop large-scale carbon capture and storage solutions and explore new opportunities for developing decarbonized hydrogen and ammonia.
Saint Petersburg/Russia – Total Energies and Novatek have signed a Memorandum of Understanding (MOU) to jointly work on sustainable reductions of CO₂ emission resulting from the production of liquefied natural gas (LNG). This also includes the use of renewable power, to develop large-scale carbon capture and storage solutions (CCS) and to explore new opportunities for developing decarbonized hydrogen and ammonia. This partnership will leverage the significant low-cost resources of the Yamal and Gydan peninsulas and their large potential for geological storage.
Each partner will bring its best-in-class technologies and combine its know-how to explore and develop projects that will help reduce the carbon footprint of the LNG value chain, using:
- carbon capture and storage (CCS),
- energy efficiency,
- renewable sources of power,
- marketing of carbon-neutral LNG,
- and clean hydrogen & ammonia
Total Energies is a 19.4 % shareholder in Novatek and holds a 20 % stake in Yamal LNG, a project that started up in December 2017 and produced more than 18.8 million tons of LNG in 2020.