Rosneft, Equinor to cooperate in carbon management

MOSCOW. Sept 29 (Interfax) - Rosneft and Norway's Equinor have signed a cooperation agreement on carbon management, the Russian oil company said in a press release.

"The companies will assess their joint projects for the potential of using technologies and equipment for detection, measurement and reduction of greenhouse gas emissions, primarily, of methane emissions, and will also strive to achieve zero routine flaring of associated petroleum gas by 2030," Rosneft said.

"Rosneft and Equinor will look into the prospects for implementation of new projects envisaging the use of alternative energy sources, including wind energy, application of CO2 capture and storage technologies, and development of hydrogen business ("blue" and "green" hydrogen)," the press release said. The companies will also join forces to develop low-carbon design standards for new and existing joint upstream projects, Rosneft said.

Rosneft has also signed a similar document with ExxonMobil .

"The goal of the document is to develop cooperation between the parties in implementing low-carbon technological solutions in order to reduce greenhouse emissions. The companies plan to study the prospects for implementing new joint projects involving the use of technologies for absorbing and storing CO2, as well as developing modern fuel, including hydrogen and ammonia," Rosneft said.