Novatek and the Ministry of Economy, Trade and Industry of Japan signed a Memorandum of Cooperation on ammonia, hydrogen and carbon capture, utilization and storage.
he 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 is of great importance for the successful implementation of NOVATEK’s strategic plans to further increase LNG production while correspondingly reducing our carbon footprint. The Memorandum also contributes to strengthening the economic ties between Russia and Japan
notes Leonid Mikhelson, NOVATEK’s Chairman of the Management Board.