TotalEnergies signs an MOU with Novatek

TotalEnergies and Novatek have signed a Memorandum of Understanding (MoU) to jointly work on sustainable reductions of the CO₂ emission resulting from the production of liquefied natural gas (LNG) including 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 best-in-class 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.