The Board of Directors (the “Board”) of PAO NOVATEK (“NOVATEK”) discussed the progress implementing the Company’s Corporate Strategy and approved environmental targets for the period up to 2030, including atmospheric emissions reduction, associated petroleum gas utilization and waste disposal.
The Company's Strategy considers the increasing role of LNG in the future global energy mix by replacing other types of fossil fuels (coal, fuel oil and diesel), which reduces greenhouse gas and air pollutants emissions. The role of natural gas will be fundamental in decarbonizing the global energy mix, as a low-carbon energy alternative to traditional fossil fuels in the energy transition, while managing the intermittency of the energy supply from renewables.
"NOVATEK fully subscribes to the tenets outlined in the Paris Climate Agreement, which was subsequently adopted by the Russian Federation in September 2019,” noted NOVATEK’s Deputy Chairman of the Management Board Mark Gyetvay. “The present level of our greenhouse gas emissions per barrel of production is already among the lowest globally due to the use of state-of-the-art technologies and a high share of natural gas in the Company's hydrocarbon production. We set ambitious targets that will contribute to the reduction of greenhouse gas emissions to meet global climate change initiatives, as well providing affordable, secure and sustainable, clean-burning natural gas to our customers for many decades”.