The Methane Guiding Principles welcomes PAO NOVATEK as its newest signatory to the Methane Guiding Principles initiative with immediate effect. NOVATEK is the largest independent natural gas producer in Russia. The Company is principally engaged in the exploration, production, processing and marketing of natural gas and liquid hydrocarbons and have more than 20 years of operational experience in the Russian oil and natural gas sector.
As a signatory, NOVATEK joins a voluntary coalition of industry and non-industry organisations who are focussed on priority areas for action across the natural gas supply chain, from production to the final consumer.
“With a large share of natural gas in our energy production mix, NOVATEK already has one of the lowest greenhouse gas and methane emissions intensity across the global oil and gas sector. Recently we published our environmental and climate change targets, being the only Russian oil and gas company with methane emissions long-term goal to reduce specific methane emissions by 4% by 2030,” noted NOVATEK’s Deputy Chairman of the Management Board Mark Gyetvay. “Natural gas will play a vital role towards an environmentally sustainable future and reducing methane leaks to the atmosphere is the single most important and cost-effective way for the industry to bring down greenhouse gas emissions”.