NOVATEK and TotalEnergies Sign MOU on Decarbonization, Hydrogen and Renewables
“With our long-term partner TotalEnergies, we are implementing technical solutions to reduce our carbon footprint on our Yamal LNG and Arctic LNG 2 projects and increase the competitiveness of our LNG products,” noted Leonid Mikhelson, NOVATEK’s Chairman of the Management Board. “Our long-term goal is to provide the global markets with affordable, secure and low-carbon natural gas, and the cooperation with TotalEnergies and our partners is one way for us to contribute to the decarbonization of the global energy industry.”
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. Upstream activities of the Company’s subsidiaries and joint ventures 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.