NLMK and NOVATEK sign memorandum of cooperation to reduce climate impacts

Wednesday, 13 January 2021 12:34:45 (GMT+3)   |   Istanbul
       

Russian steelmaker NLMK Group has announced that it has signed a memorandum of cooperation with Russia-based natural gas producer NOVATEK to reduce adverse climate impacts.

The aim of the cooperation is to cut greenhouse gas emissions. NLMK and NOVATEK plan to jointly test carbon capture, use and storage technologies, to develop and improve hydrogen production technologies and transportation methods, as well as the use of hydrogen fuel to reduce greenhouse gas emissions. NLMK and NOVATEK are also exploring the development of new products required to implement low-carbon technologies.

According to the company’s statement, NLMK has achieved a significant reduction in carbon emissions. Over the last five years, NLMK Group has reduced its carbon emissions per metric ton of steel by three percent amid growing production, and aims to further reduce them by another 3.5 percent by 2023.


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