Russian LNG producer Novatek is teaming up with the Japan Bank for International Cooperation and the Ministry of Economy, Trade and Industry of Japan on hydrogen and ammonia projects.
The firm said in a statement on Thursday it has signed a strategic cooperation agreement with JBIC on low-carbon projects.
Under the deal, the duo plans 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,” Novatek’s chief Leonid Mikhelson, said.
He said this agreement provides opportunities for Novatek to work with Japanese companies and financial institutions on developing the firm’s 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,” Mihhelson said.
Novatek said in a separate statement it signed a memorandum of cooperation with METI on ammonia, hydrogen and carbon capture, utilization and storage.
The partners plan to 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, Novatek said.