Novatek registers first climate project in carbon units registry

MOSCOW. Oct 15 (Interfax) - Novatek-Yurkharovneftegaz LLC has registered a climate technology project based at the Yurkharovskoye field in the Yamalo-Nenets Autonomous District (YNAD) in the Russian registry of carbon units, Novatek said.

The project is being implemented within the comprehensive program for environmental and climate goals up to 2030 as approved by Novatek's board of directors in 2020. The project will reduce greenhouse gas emissions from the combustion of natural gas for the disposal of industrial wastewater by organizing the purification of the wastewater with subsequent injection into absorption wells. The total expected reduction in greenhouse gas emissions over the entire period of the project is up to 2.5 million tonnes of CO2 equivalent or up to 255,000 tonnes of CO2 equivalent per year.

The project received a positive conclusion from an independent body for greenhouse gas validation and verification and was recognized as meeting all the requirements and criteria established for these projects by Russian legislation.