Russia's Novatek eyes domestic LNG market
Russian gas producer Novatek has created a subsidiary to expand into the domestic LNG market, it said July 15.
The subsidiary, Novatek - LNG Fuel, will develop small-scale LNG plants in Russia, sell the LNG on the wholesale network and establish a retail network for it as a motor fuel. Novatek already operates a 40,000 metric ton/year LNG plant in the Urals region of Chelyabinsk, as well as a chain of 12 LNG filling stations.
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"We are creating a dedicated subsidiary to develop the domestic LNG fuel market as part of our commercial marketing strategy," Novatek CEO Leonid Mikhelson commented. "The use of LNG as a motor fuel can reduce carbon emissions compared to diesel or other petrol products, as well as significantly reduce harmful particles emitted into the atmosphere, which contributes to the decarbonisation of the transport industry and the protection of the environment."
Publishing its 2020 sustainability report, Novatek also announced it would be setting up a board subcommittee on climate and alternative energy. The committee will comprise Dominique Marion, Arnaud Le Foll, Robert Castaigne, Tatiana Mitrova, Alexander Natalenko and Viktor Orlov.