NLMK Group, an international metallurgical company, and the largest independent producer of natural gas in Russia, PAO NOVATEK, signed a memorandum of cooperation in the area of climate impact mitigation.
A key area of cooperation is reducing greenhouse gas emissions. NLMK Group and PAO NOVATEK plan to jointly test technologies for capturing, use and storage of CO2, as well as develop and improve technologies for hydrogen production, transportation, and the use of hydrogen fuel to reduce greenhouse gas emissions. In addition, the companies are considering the development of new products required for the implementation of low-carbon technologies.
NLMK Group has thus far achieved significant CO2 emissions reductions and is one of the global industry leaders in terms of emissions per ton of steel. Over the past five years, against the backdrop of production growth, NLMK Group has reduced CO2 emissions per tonne of steel by 3% - from 2.04 tonnes in 2015 to 1.98 in 2019 - and sets a goal of further reduction to 1.91 tonnes ( by another 3.5%) by 2023
Information about NLMK Group
NLMK Group is a vertically integrated metallurgical company, the largest in Russia and one of the most efficient steel producers in the world.
NLMK Group's metal products are used in various industries, from construction and mechanical engineering to power equipment and offshore wind turbines.
NLMK's production assets are located in Russia, Europe and the USA. The company's steel production capacity exceeds 17 million tonnes per year.
NLMK demonstrates high cost competitiveness among global manufacturers, and the company's profitability is one of the highest in the industry. The company has investment grade credit ratings from S&P, Moody's, Fitch and Expert RA.
NLMK's common shares, which have free-float of 20.7%, are traded on the Moscow Stock Exchange (ticker “NLMK” ), global depository shares - on the London Stock Exchange (ticker "NLMK: LI"). The share capital of the Company is divided into 5,993,227,240 ordinary shares with a par value of 1 Russian ruble. More information about NLMK's share capital can be found here.
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