Russian natural gas producer PAO Novatek and the Japanese government have signed a memorandum of cooperation on ammonia, hydrogen and carbon capture, utilization and storage (CCUS).
The agreement between Novatek and the Ministry of Economy, Trade and Industry of Japan was signed on 2 September as part of the Eastern Economic Forum being held in Vladivostok, Russia.
Specifically, the parties intend to mutually support projects in producing and marketing of ammonia and hydrogen, as well as implementing technologies for carbon capture and storage in Russia and Japan.
In particular, the memorandum provides for the exchange of information and research in these areas, as well as implementing pilot projects and providing state support for developing policies in the field of decarbonization, standards and requirements for low-carbon products.
“The memorandum expands inter-governmental support for our climate projects that are of great importance for the successful implementation of Novatek’s strategic plans to further increase LNG production while correspondingly reducing our carbon footprint,” Leonid Mikhelson , Novatek’s Chairman of the Management Board, said.
“The memorandum also contributes to strengthening the economic ties between Russia and Japan.”
Also on 2 September, Novatek and the Japan Bank for International Cooperation (JBIC) revealed plans to work together on low-carbon projects.
The duo signed a strategic cooperation agreement, stating their intention to cooperate on projects to produce hydrogen and ammonia, carbon capture, utilization, and storage technologies, as well as renewable energy projects in Russia, including ammonia and hydrogen production projects in the Yamal Peninsula.
“We are actively studying options to further reduce our current low carbon footprint from Novatek’s LNG production by using renewable energy sources, carbon capture and storage and hydrogen-based fuels at our LNG projects,” Mikhelson commented.
“This strategic cooperation agreement provides opportunities for us to work with Japanese companies and financial institutions on developing our low-carbon solutions, attracting investments and expanding the range of suppliers of … equipment and technologies.”
“Moreover, it facilitates opportunities for us to market our clean fuel products to a wider range of consumers from Japan to reduce the total carbon emissions,” Mikhelson added.