NOVATEK Obtains International Certification for CO2 Underground Storage Sites in Yamal and Gydan
“Having certified CO2 geological storage sites is an important element of the Company's strategy to decarbonize production clusters for LNG and low-carbon gas chemicals”, noted Leonid Mikhelson, Chairman of NOVATEK’s Management Board. “The large potential of the certified CO2 storage sites allows both capturing and storing CO2 generated at our own production facilities, and offering CO2 underground storage services to third parties. NOVATEK is currently finalizing the pre-FEED stage for CO2 capture and treatment infrastructure in Yamal, with subsequent CO2 injection in the subsurface for long-term storage. The project will allow reducing the carbon footprint of the Company's existing and prospective projects, including LNG plants and gas chemical production facilities”.
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.