During the latest Eastern Economic Forum held in Vladivostok, Japan’s trade and industry ministry (Meti) and Russia’s state-owned Novatek agreed to provide mutual support for projects pertaining to the production and marketing of ammonia and hydrogen, as well as the implementation of Carbon Capture Utilisation and Storage (CCUS) technologies in Japan and Russia.
Meti and Novatek agreed to exchange information and cooperate in research efforts, while implementing pilot projects to support decarbonisation, and also provide state support to develop policies for carbon neutrality.
Novatek sees the bilateral cooperation for climate projects helping support its strategy to further increase LNG production, while reducing its carbon footprint.
Leonid Mikhelson, Novatek’s chairman, said: “The memorandum expands inter-governmental support for our climate projects that is of great importance for the successful implementation of Novatek’s strategic plans to further increase LNG production while correspondingly reducing our carbon footprint. The memorandum also contributes to strengthening the economic ties between Russia and Japan.”