Rosatom and NOVATEK Sign Memorandum of Understanding on Cooperation in Decarbonisation

On 12th October 2022, Rosatom State Atomic Energy Corporation and PAO NOVATEK signed a Memorandum of Understanding on Cooperation in Decarbonisation at the Russian Energy Week international forum. 

The document was signed by Alexey Likhachev, Director General of Rosatom State Atomic Energy Corporation, and Leonid Mikhelson, Chairman of the Management Board of PAO NOVATEK.

The Memorandum sets out that NOVATEK Group companies, particularly its Gas Condensate Fractionation and Transhipment Facility in the port of Ust-Luga, will purchase electric power generated at Rosatom’s wind farms. Buying ‘green’ electricity will reduce carbon footprint of NOVATEK products in line with international standards. 

The parties aim to join efforts in the development of wind energy in the extreme conditions of the Arctic. The Memorandum also provides for the assessment of the possibilities of using Rosatom’s technology and solutions in the production of LNG, low-carbon hydrogen and ammonia, as well as in the generation and storage of electric power. 

“Guided by international environmental standards in its activities, Rosatom supports climate change initiatives and works consistently to implement its low-carbon generation strategy by focusing on the emerging market of green energy supplies. Increasingly more businesses opt out to embark on sustainable development pathways, which is key to their competitiveness and long-term commercial success,” Alexey Likhachev pointed out.