PAO NOVATEK : Novatek Signs Agreement to Work on Reducing CO2 Emissions

By Anthony O. Goriainoff

Novatek said Monday that it has signed a cooperation agreement with Italy's Nuovo Pignone to reduce its CO2 emissions.

The London-listed company, which is Russia's second-largest gas producer, said that according to the memorandum of understanding signed, both companies will start implementing a project to convert gas turbines to hydrogen-based fuel gas mix.

The Baker Hughes Company, of which Nuovo Pignone is a part, is one of the main equipment suppliers at Novatek's Yamal and Arctic LNG 2 liquefied natural gas projects in Russia.

"Hydrogen technologies have great prospects to reduce the level of global greenhouse gas emissions, and further work is required to develop and adapt these technologies for operations in Arctic climatic conditions," said Novatek Chairman Leonid Mikhelson.

Write to Anthony O. Goriainoff at [e-mail]

(END) Dow Jones Newswires

02-01-21 0739ET