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NOVATEK and Uniper Signed MOU on Hydrogen Production and Supply

 Moscow, 29 January 2021. PAO NOVATEK (“NOVATEK” and/or the “Company”) and Uniper signed a Memorandum of Understanding (MOU) to investigate and assess the possibilities of developing a hydrogen value chain.

According to the MOU, the Parties will develop an integrated hydrogen production, transportation and supply chain, including hydrogen supplies to Uniper’s power stations in Russia and Western Europe.  The MOU considers producing "blue" hydrogen from natural gas combined with carbon capture and storage as well as producing “green” hydrogen from renewable energy sources.

“Hydrogen as a clean burning energy source has broad applications to mitigate climate change and is a promising area for NOVATEK to develop as part of our long-term strategy,” noted Leonid Mikhelson, NOVATEK’s Chairman of the Management Board. “Although in its infancy, the development of commercially scalable production of low carbon hydrogen, together with our joint cooperation with Uniper, one of the leading international energy companies, will allow us to create a solid foundation for building effective long-term relationships in the field of low carbon energy”.

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”.