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PAO Severstal and NOVATEK, one of Russia’s leading natural gas producers, today signed a Memorandum of Cooperation at the St. Petersburg International Economic Forum, which will look to develop hydrogen, alternative energy, and greenhouse gas emissions reduction technologies.
Under the agreement, signed by Alexey Mordashov, Chairman of the Board of Directors of PAO Severstal, and Leonid Mikhelson, Chairman of the Management Board of NOVATEK, the parties will consider launching a joint pilot project for the production of "blue" hydrogen from natural gas using carbon capture and storage technology. The parties intend to jointly develop the capabilities, necessary standards and engineering solutions for the production and supply of hydrogen transportation pipelines, turbines, and hydrogen storage systems and transport tanks.
Both companies also agreed to partner on the production and supply of hydrogen and the development of technological solutions for the use of fuels based on hydrogen and its carriers, including ammonia.
Alexey Mordashov, Chairman of the Board of Directors of PAO Severstal, commented:“In working towards the global goal of achieving a low carbon economy, Severstal is developing a number of solutions to reduce the carbon footprint of its activities and expand its range of products produced using carbon-free fuels. An example of this is our collaboration with our strategic partner NOVATEK. We expect to see rapid growth in technologies and projects for the capture and storage of CO2 as well as for the production of hydrogen, both in Russia and globally, which will open up a host of development opportunities for our companies.”