Novatek, Rosatom sign MoU on decarbonisation
The MoU envisages that Novatek group entities will purchase electricity generated at Rosatom’s wind farms.By Shardul Sharma
Russian energy company Novtek and power utility Rosatom have signed a memorandum of understanding (MoU) on cooperation in decarbonisation, Novatek said on October 12.
The MoU envisages that Novatek group entities, in particular, the Ust-Luga Gas Condensate Fractionation and Transshipment Complex, will purchase electricity generated at Rosatom’s wind farms.
Novatek said that purchasing green energy will help the company reduce the carbon footprint of its products in accordance with international standards.
The parties intend to cooperate in the development of wind power generation in the harsh conditions of the Arctic. According to the MoU, the parties will also look to implement Rosatom’s engineering solutions in the production of LNG, low-carbon hydrogen and ammonia as well as power generation and storage.