NOVATEK & Sberbank Sign MOU on Green Financing

Source: www.gulfoilandgas.com 6/4/2021, Location: Asia

PAO NOVATEK (“NOVATEK”) and PJSC Sberbank signed a Memorandum of Understanding (“MOU”) to mutually cooperate in the field of ESG.

The Parties confirm their intentions to secure “green financing” on projects relating to environmental protection and climate change mitigation, renewable energy development, production and transshipment of low-carbon or carbon-neutral products, as well as joint social initiatives.

“We have a long and successful track record of mutual cooperation with Sberbank and their participation in financing our LNG projects,” noted Leonid Mikhelson, NOVATEK’s Chairman of the Management Board. “This new MOU takes our mutual cooperation to another level and accords us the additional opportunities to implement NOVATEK’s social and environmental initiatives, which represent one of the core elements of decarbonizing our hydrocarbon value chain and meeting the Company's development strategy.”


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