TotalEnergies, Novatek to work on decarbonising LNG production

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June 4 (Renewables Now) - French oil-and-gas major TotalEnergies SE (LON:TTE), formerly known as Total SA, has signed a memorandum of understanding (MoU) with Russian natural gas producer Novatek PAO (MCX:NVTK) to jointly work on reducing CO2 emissions resulting from the production of liquefied natural gas (LNG).

The French company said Thursday that the partners would explore and develop projects to decarbonise the LNG value chain using renewable sources of power, carbon capture and storage (CCS), energy efficiency and clean hydrogen and ammonia.

The pair intends to leverage the significant low-cost resources of the Yamal and Gydan peninsulas, both on the Siberian cost, and their large potential for geological storage, TotalEnergies said.

TotalEnergies holds a 19.4% stake in Novatek and a 20% stake in the Yamal LNG project.

TotalEnergies’ announcement was made on the same day Novatek said it had signed a MoU with Finnish energy company Fortum Oyj (HEL:FORTUM) to source wind power for its Vysotsk LNG plant.

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Sladjana has significant experience as a Spain-focused business news reporter and is now diving deeper into the global renewable energy industry. She is the person to seek if you need information about Latin American renewables and the Spanish market.

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