Rosneft and Equinor Agree on Cooperation in Carbon Management

Rosneft and Equinor have signed a Cooperation Agreement on carbon management.

This agreement is based on a longstanding partnership between two companies and confirms their commitment for joint development, testing and implementation of cutting-edge technology solutions on carbon management.

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 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 companies will join their efforts to develop low-carbon design standards for new and existing joint projects in the Upstream.