According to the Agreement, the two companies intend to jointly develop and implement high-tech solutions to produce LNG, electricity, hydrogen and other products to maintain sustainable development initiatives and achieve the Parties' goals to reduce their carbon footprint and increase environmental efficiency.
As part of the Agreement, Novatek and Siemens Energy will begin implementing a project to replace fuel natural gas used in the production of electricity and LNG with carbon-neutral hydrogen.
We have a long and successful track record of mutual cooperation with Siemens Energy who is a key equipment supplier for both our Yamal LNG and Arctic LNG 2 projects
noted Leonid Mikhelson, NOVATEK’s Chairman of the Management Board.
Novatek's strategy to expand LNG production in the Arctic region is based on using technological solutions that meet and/or exceed stringent environmental requirements.
The collaboration with Siemens Energy to decarbonize their LNG production and contribute significantly to the mitigation of climate change, which is of paramount importance to reduce their carbon footprint in the Arctic ecosystem.