Russia/Japan – PAO NOVATEK and Japan’s Ministry of Economy, Trade, and Industry inked a Memorandum of Understanding on ammonia, hydrogen, and carbon capture, use and storage.
The agreement was signed in the presence of the Russian Federation’s Minister of Energy, Nikolai Shulginov, and Japan’s Minister of Economy, Trade, and Industry, Hiroshi Kajiyama, as part of the Eastern Economic Forum.
The parties plan to mutually assist projects in Russia and Japan for the production and selling of ammonia and hydrogen, as well as for the implementation of carbon capture and storage technology. The Memorandum, in particular, calls for the sharing of information and research in these areas, as well as the implementation of pilot projects and the provision of governmental assistance for establishing policies on decarbonization, standards, and requirements for low-carbon goods.
“The Memorandum expands inter-governmental support for our climate projects that is of great importance for the successful implementation of NOVATEK’s strategic plans to further increase LNG production while correspondingly reducing our carbon footprint. The Memorandum also contributes to strengthening the economic ties between Russia and Japan,” said Leonid Mikhelson, NOVATEK’s Chairman of the Management Board.