Novatek Establishes Climate Subcommittee
PAO Novatek has revealed that its board of directors has established a subcommittee on climate and alternative energy within the board’s strategy committee.
The group is comprised of Dominique Marion (chairman), Arnaud Le Foll, Robert Castaigne, Tatiana Mitrova, Alexander Natalenko, and Viktor Orlov. The subcommittee will review various aspects of the company’s business operations and develop recommendations for the board on the company’s strategy on climate and decarbonization issues, the development of renewable energy sources, and the potential production of low carbon fuels, including hydrogen, PAO Novatek noted.
The company added that the new group will facilitate regular in-depth reviews of PAO Novatek’s climate strategy implementation and submit proposals on climate mitigation and abatement for consideration by the board of directors.
As a major natural gas producer, PAO Novatek pays special attention to climate change mitigation and is guided by the UN Sustainable Development Goals and the tenets of the Paris Climate Agreement, the company states on its website. Back in August 2020, the board approved the company’s environmental and climate goals for the period up to 2030, with 2019 as the baseline year.
PAO Novatek is the largest independent natural gas producer in Russia, according to its site, which highlights that the business entered the global LNG market in 2017 by 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. Its upstream activities are concentrated mainly in the Yamal-Nenets Autonomous Region, which is said to be the world’s largest natural gas producing area.
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