Moscow, 15 October 2024. PAO NOVATEK (“NOVATEK” and/or the “Company”) announced today that its subsidiary, NOVATEK-YURKHAROVNEFTEGAS, has registered a technology-based climate project located at the Yurkharovskoye field in the Yamal-Nenets Autonomous Area (the “Project”) with the Russian Carbon Units Registry.
The Project is part of comprehensive efforts to achieve the environmental and climate change targets to 2030 approved by NOVATEK’s Board of Directors in 2020. The Project will help drive down GHG emissions from natural gas combustion that occurs during industrial wastewater disposal, by treating the wastewater before injecting it into dedicated injection wells. The overall GHG emissions reduction for the project lifecycle is expected to reach up to 2.5 mmtCO2e, or up to 255,000 tCO2e per year.
The Project successfully completed an independent verifier’s GHG validation and verification process and demonstrated that it meets all the applicable requirements and criteria set forth in the Russian legislation.
Organizations
PAO NOVATEK is one of the largest independent natural gas producers in Russia, and in 2017, entered the global LNG market by successfully launching the Yamal LNG project. Founded in 1994, the Company is engaged in the exploration, production, processing and marketing of natural gas and liquid hydrocarbons. Upstream activities of the Company’s subsidiaries and joint ventures are concentrated mainly in the prolific Yamal-Nenets Autonomous Area, which is the world’s largest natural gas producing area and accounts for approximately 80% of Russia’s natural gas production and approximately 15% of the world’s gas production. NOVATEK is a public joint stock company established under the laws of the Russian Federation....
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