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Arctic Cascade Liquefaction Technology Wins National Environmental Award
27 December 2018
Moscow, 27 December 2018. PAO NOVATEK (“NOVATEK” and/or the “Company”) announced that “Arctic Cascade”, the Company’s proprietary liquefaction technology, was recognized as the winner of the 2018 National Environmental Award named after Vladimir Vernadskiy in the nomination category of "Innovative Eco-efficient Technologies in Industry and Energy”. The National Environmental Award is held annually to identify and promote projects in the field of environmental protection and environmental safety.
The Arctic Cascade liquefaction technology was created and patented by NOVATEK and ensures high efficiency of liquefaction using the ambient temperature of the Arctic region while reducing energy consumption and capital costs. Moreover, Arctic Cascade will utilize equipment produced and fabricated by Russian manufacturers.
“The Company gained significant experience in implementing LNG projects in the far north Arctic region of Russia with the successful launch of our flagship Yamal LNG project. This unique experience gave us the opportunity to develop our proprietary natural gas liquefaction technology designed based on this region’s unique climatic conditions and colder ambient temperatures” noted First Deputy Chairman of the Management Board Alexander Fridman. “The high operating efficiency of our proprietary Arctic Cascade liquefaction technology will allow us to minimize our environmental impact as well as increase the competitive advantages of our Arctic LNG projects and create opportunities for the development of LNG technologies in Russia.”
PAO NOVATEK is the largest independent natural gas producer in Russia, and in 2017, entered the global LNG market by successfully launching the Yamal LNG project. Founded in 1994, the Company is engaged in the exploration, production, processing and marketing of natural gas and liquid hydrocarbons. The Company’s upstream activities are concentrated mainly in the prolific Yamal-Nenets Autonomous Region, which is the world’s largest natural gas producing area and accounts for approximately 80% of Russia’s natural gas production and approximately 15% of the world’s gas production. NOVATEK is a public joint stock company established under the laws of the Russian Federation. The Company’s shares are listed in Russia on Moscow Exchange (MOEX) and the London Stock Exchange (LSE) under the ticker symbol “NVTK”.
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