Novatek taps Fortum to lower Scope 2 emissions
Russia's Novatek has signed a memorandum of understanding (MoU) to buy renewable power from Finland's Fortum, in order to reduce Scope 2 emissions from one of its LNG facilities.
The proposed deal would see Novatek acquire electricity from Fortum's wind power facilities in Russia to use at its Cryogas-Vysotsk LNG plant on the Baltic Sea. The Russian gas exporter will therefore "offer its LNG customers a more sustainable product with a reduced Scope 2 carbon footprint."
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"Our LNG carbon intensity is already among the lowest globally and we are working on further reducing our emissions,” CEO Leonid Mikhelson said in a statement. "Purchasing green, renewable energy to power our facility represents one of the most promising mitigation solutions, and our cooperation with Fortum, the largest investor in Russian renewable energy projects, will allow us to contribute to climate change mitigation and increase the competitiveness of our LNG in international markets."
Novatek approved a new set of 2030 environmental targets in August last year. It aims to lower its methane emissions across production, processing and LNG by 4%, its air pollutants by 20% and its upstream greenhouse gas emissions by 6%.
The Cyrogas-Vysotsk plant was launched in 2019 and produces up to 660,000 metric tons/year of LNG.