NLMK Group, an international metallurgical company, and one of the largest Russian oil companies, Gazprom Neft, have signed a memorandum of cooperation to achieve climate change mitigation goals.
The companies plan to jointly develop projects to reduce greenhouse gas emissions, in particular, technologies for the production, transportation, storage and use of hydrogen in metallurgical production. The agreement also provides for joint research and testing of technologies for capturing, using and storing CO2.
“We are pleased to cooperate in the field of decarbonization with our partner Gazprom Neft: joint efforts to develop hydrogen energy, capture and utilize CO2 will accelerate introduction of new technologies to reduce the impact on climate ", - commented Sergey Chebotarev, Vice President for Energy and Environment of NLMK Group.
Over the past five years, NLMK Group has reduced the level of CO2 emissions per tonne of iron and steel sales by 4% - from 1.98 tonnes in 2016 to 1.90 tonnes in 2020 - and sets the goal of further reduction to 1.84 tonnes (an additional 3%) by 2023
About NLMK Group
NLMK Group is a vertically integrated metallurgical company, the largest in Russia and one of the world's most efficient producers of steel products.
NLMK Group metal products are used in various industries, from construction and mechanical engineering to en energy equipment and offshore wind turbines.
NLMK's production assets are located in Russia, Europe and the United States. The company's steel production capacity exceeds 18 million tonnes per year.
NLMK's common shares, which have a free-float of 20.7%, are traded on the Moscow Stock Exchange (ticker “NLMK”). 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.