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NOVATEK and Siemens Energy sign agreement

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LNG Industry,

PAO NOVATEK and Siemens Energy have signed a Strategic Partnership and Co-operation Agreement. According to the Agreement, the Parties 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 foot-print and increase environmental efficiency.

As part of the Agreement, the Parties will commence 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 co-operation 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. “Our strategy to expand LNG production in the Arctic region is based on utilising state-of-the-art technological solutions that meet and/or exceed stringent environmental requirements. Our further collaboration with Siemens Energy to decarbonise our LNG production will contribute significantly to the mitigation of climate change, which is of para-mount importance to reduce our carbon footprint in the Arctic ecosystem.”

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