Russian independent LNG producer Novatek said Tuesday it signed a deal with compatriot steel firm NLMK Group to work in areas aimed at slashing greenhouse gas emissions
Under the cooperation memorandum, the duo intend to cooperate in carbon capture, utilization and storage solutions.
In addition, they will work on hydrogen production technologies and the use of hydrogen as a clean-burning fuel, as well as develop new products for use in low-carbon technologies.
“NLMK is one of the largest industrial consumers of our natural gas,” Novatek’s chief executive and Russian billionaire Leonid Mikhelson said.
“Expanding our joint activities with our customers and suppliers in reducing our carbon footprint is of strategic importance to us. We are undertaking further work to develop low-carbon technologies in Russia to reduce greenhouse gas emissions and contribute to achieving the global emission goals as outlined in the Paris Climate Agreement,” he said.