01 December 2020
Moscow, 1 December 2020. PAO NOVATEK ('NOVATEK' and/or the 'Company') announced that its wholly owned subsidiary, Novatek Green Energy, has launched its first carbon-neutral1 LNG fueling station in Rostock, Germany. Carbon neutral offsets from a carefully selected portfolio of emission reduction projects, including wind generation projects in developing countries, will be used to compensate for the LNG's carbon footprint sold to end-customers. The certification of emission reduction projects will be performed in accordance with the authoritative international standard 'Verified Carbon Standard', or VCS.
As part of NOVATEK's long-term strategy, the Company plans to build a network of LNG fueling stations in Europe to provide heavy duty transport with clean fuel at key transport connecting points between Germany and Poland. Currently, the Company operates a network of six LNG fueling stations in the European market as well as 19 regasification facilities.
'NOVATEK is actively developing a network of LNG fueling stations both in Russia and Europe as natural gas is an environmentally friendly, clean burning energy fuel source,' said Lev Feodosyev, NOVATEK's First Deputy Chairman of the Management Board. 'Our flagship Yamal LNG project is already one of the most environmentally friendly LNG plants in the world. We recently published our environmental and climate change targets2 for the period up to 2030, which are aimed at making our contribution to solving the issues of global climate change. The launch of a carbon-neutral LNG fueling station in the port city of Rostock is another step in our efforts to reduce our carbon footprint and facilitate the energy transition to a low-carbon future.'
(1) the term 'carbon neutral' means that Novatek Green Energy compensated for the amount of greenhouse gas emissions from the following scopes: upstream transport of LNG from the supply source at LNG terminals in Europe to the fueling station, fueling station operations and the final consumption of LNG by end-customers.
(2) full details are available at http://www.novatek.ru/en/development/
PAO NOVATEK is the largest independent natural gas producer in Russia, and in 2017, entered the global LNG market by successfully launching the Yamal LNG project. Founded in 1994, the Company is engaged in the exploration, production, processing and marketing of natural gas and liquid hydrocarbons. Upstream activities of the Company's subsidiaries and joint ventures are concentrated mainly in the prolific Yamal-Nenets Autonomous Region, which is the world's largest natural gas producing area and accounts for approximately 80% of Russia's natural gas production and approximately 15% of the world's gas production. NOVATEK is a public joint stock company established under the laws of the Russian Federation. The Company's shares are listed in Russia on Moscow Exchange (MOEX) and the London Stock Exchange (LSE) under the ticker symbol «NVTK».
OAO Novatek published this content on 01 December 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 December 2020 09:08:05 UTC