NOVATEK Obtains International Certification for CO2 Underground Storage Sites in Yamal and Gydan
Moscow, 3 February 2022. PAO NOVATEK (“NOVATEK” and/or the “Company”) announced today that the first of three stages of international certification for long-term CO2 underground storage sites in the Yamal and Gydan Peninsulas has been successfully completed and that site feasibility certificates have been issued for further study of the sites and subsequent certification stages. Det Norske Veritas (DNV), an independent certification and classification society, issued certificates of conformity with international standards ISO 27914:2017 Carbon Dioxide Geological Storage and DNVGL-SE-0473 Certification of Sites and Projects for Geological Storage of Carbon Dioxide.
Pursuant to the issued certificates, the geological formations within the Obskiy (Yamal) and Tadebyayakhinskiy (Gydan) license areas have the capacity to store at least 600 million tons of CO2 each, which is supported by calculations. The calculations were made by NOVATEK’s Scientific and Technical Center with the involvement of international service companies, and verified by DNV.
“Having certified CO2 geological storage sites is an important element of the Company’s strategy to decarbonize production clusters for LNG and low-carbon gas chemicals”, noted Leonid Mikhelson, Chairman of NOVATEK’s Management Board. “The large potential of the certified CO2 storage sites allows both capturing and storing CO2 generated at our own production facilities, and offering CO2 underground storage services to third parties. NOVATEK is currently finalizing the pre-FEED stage for CO2 capture and treatment infrastructure in Yamal, with subsequent CO2 injection in the subsurface for long-term storage. The project will allow reducing the carbon footprint of the Company’s existing and prospective projects, including LNG plants and gas chemical production facilities”.
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. The Company’s upstream activities 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”.
The original press release can be found on the Novatek website
