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TotalEnergies, Novatek to decarbonize LNG production with H2 and renewables

6/1/2021

TotalEnergies and Novatek have signed an MOU to jointly work on sustainable reductions of CO₂ emissions from LNG production, with the use of renewable power, to develop large-scale carbon capture and storage solutions (CCS) and to explore new opportunities for developing decarbonized hydrogen and ammonia. This partnership will leverage the significant low-cost resources of the Yamal and Gydan peninsulas and their large potential for geological storage.

Each partner will bring its technologies and combine its know-how to explore and develop projects that will help reduce the carbon footprint of the LNG value chain, using:

carbon capture and storage (CCS)
energy efficiency
renewable sources of power
marketing of carbon-neutral LNG
and clean hydrogen & ammonia.

TotalEnergies is a 19.4% shareholder in Novatek and holds a 20% stake in Yamal LNG, a project that started up in December 2017 and produced more than 18.8 MMt tons of LNG in 2020. The company also holds a 10% stake in Arctic LNG 2, a project currently under construction and on track to deliver its first LNG cargo in 2023.