Gazprom Neft and NLMK Will Jointly Develop New Technologies
” Gazpromneft – Technological partnership ” and the international steel company NLMK signed an agreement on cooperation in the field of innovation. The parties intend to combine resources, competencies and knowledge for interaction in the field of innovations, search and support of technological start-ups in the energy sector.
The partners plan to jointly develop the infrastructure for testing and implementing technologies from Russian developers. Participants in the Gazprom Neft INDUSTRIX * acceleration program will have the opportunity to test prototypes of their products at NLMK’s industrial sites, as well as expertise from leading experts in the oil and metallurgical industries.
Gazprom Neft and NLMK plan to develop both solutions for exploration and production and conventional energy, as well as innovations to overcome the challenges associated with the energy transition, including the creation of technologies for capturing, using and storing CO2.
“Modern big business is actively launching acceleration programs. With their help, we can customize technologies from the open market to suit our challenges and solve industry problems more efficiently. At the same time, all aspects of such programs benefit: business gets innovations to optimize their processes, and startups get the opportunity to turn their ideas into popular products and integrate them into leading companies, ”said Alexei Vashkevich, Director of Technological Development at Gazprom Neft .
“NLMK Group is pleased to be part of an ecosystem created for the dynamic development of unique solutions with high technological, market and cross-industry potential. Combining efforts will allow our companies to more efficiently find, test and implement the best technologies in the field of alternative energy, decarbonization, digitalization and in other areas, ”commented Sergey Chebotarev, Vice President of NLMK Group for Energy and Environment .
REFERENCE
* INDUSTRIX is a technology development program launched within the framework of the existing Technological Management System of Gazprom Neft. The program includes an E&P technology accelerator that launched in June 2021, an early stage project incubator, a startup studio, and a corporate entrepreneurship program. The accelerator is aimed at the development of technology startups and innovative solutions in the field of hydrocarbon exploration and production, industry 4.0, capital construction and alternative energy. At the scouting stage, more than 500 startups from 5 countries applied for participation. The best teams will be able to apply for integration into the company’s business and investments from leading venture capital funds.
Gazprom Neft Is a vertically integrated oil company. The main activities are exploration and development of oil and gas fields, oil refining, production and marketing of oil products. In terms of oil production and refining, Gazprom Neft is one of the three largest companies in Russia. The structure of Gazprom Neft includes more than 70 oil producing, refining and marketing enterprises in Russia, CIS and non-CIS countries. The geography of Gazprom Neft’s business covers 110 countries of the world. The company’s network of filling stations has more than 2 thousand stations in Russia, the CIS countries and Europe. The company ranks among the industry leaders in terms of efficiency. At the end of 2020, the company’s revenue amounted to 2 trillion rubles, adjusted EBITDA – 485 billion rubles, net profit – 117.7 billion rubles. The largest shareholder of Gazprom Neft is PJSC Gazprom (95.68%).
NLMK Group is a vertically integrated steel company, the largest in Russia and one of the most efficient steel producers in the world.
NLMK Group’s metal products are used in a variety of industries, from construction and mechanical engineering to power 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 tons per year. NLMK demonstrates high cost competitiveness among global manufacturers, 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 ordinary shares, which have a 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”).
