- TotalEnergies and Novatek have agreed to reduce carbon emissions in the production of LNG.
- Both companies will utilise clean energy and carbon storage, among others, approached to achieve this.
- TotalEnergies plan to achieve net-zero emissions by 2050.
French energy giant TotalEnergies (formerly Total SA) has signed a memorandum of understanding (MoU) with Russian natural gas producer Novatek PAO to jointly work on reducing associated CO2 emissions during liquefied natural gas (LNG) production.
The French company stated that it would work with Novatek to decarbonise the LNG value chain using renewable energy, carbon capture and storage (CCS), energy efficiency, clean hydrogen and ammonia. In addition, both companies plan to work together on the low-cost resources of the Yamal and Gydan peninsulas, both on the Siberian coast.
TotalEnergies holds a 19.4% stake in Novatek and a 20% stake in the Yamal LNG project. Novatek also signed an MoU with Finnish company Fortum Oyj to procure wind energy for its Vysotsk LNG plant.
TotalEnergies recently changed its name to reflect its shift into the renewable energy market. The company plans to achieve net-zero carbon emissions by 2050.