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Novatek signed an agreement with German Uniper to develop a hydrogen business

CIS GAS MONETISATION

Novatek signed an agreement with German Uniper to develop a hydrogen business

The leading Russian private LNG player Novatek signed today a Memorandum of Understanding with German Uniper on exploring the development of a hydrogen supply chain. Source: Neftegazru

Hydrogen is seen as one of the emerging fuels possibly compatible with LNG in operational aspects. Across the globe, producers are seeking out the least-possible disruptive path to switch their businesses into a greener future.

Hydrogen as a clean burning energy source has broad applications to mitigate climate change and is a promising area for Novatek to develop as part of our long-term strategy

Leonid Mikhelson, CEO, Novatek

Uniper CEO Andreas Schierenbeck said in conversation with Siemens he wants his company to make the step from coal to hydrogen economy in order to become carbon neutral in just 15 years’ time.

According to the agreement, Novatek and Uniper will develop an integrated hydrogen production, transportation and supply chain, including hydrogen supplies to Uniper’s power stations in Russia and Western Europe.

The MOU considers producing "blue" hydrogen from natural gas combined with carbon capture and storage as well as producing “green” hydrogen from renewable energy sources.

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