Novatek Green Energy, a subsidiary of JSC NOVATEK, has launched its first carbon-neutral LNG fueling station in Rostock, Germany, the company informed.
Carbon neutral offsets from a carefully selected portfolio of emission reduction projects, including wind generation projects in developing countries, will be used to compensate for the LNG's carbon footprint sold to end-customers. The certification of emission reduction projects will be performed in accordance with the authoritative international standard "Verified Carbon Standard", or VCS.
As part of NOVATEK's long-term strategy, the company plans to build a network of LNG fueling stations in Europe to provide heavy duty transport with clean fuel at key transport connecting points between Germany and Poland. Currently, the Company operates a network of six LNG fueling stations in the European market as well as 19 regasification facilities.
JSC NOVATEK (tax number: 6316031581) is the second largest natural gas producer in the Russian Federation after Gazprom.
IFRS profit of NOVATEK for 2019 attributable to the company's shareholders increased 5.3 times to RUB 865.477 billion from RUB 163.742 billion a year earlier. Total revenues increased by 3.7% to RUB 862.803 billion from RUB 831.758 billion. Normalized EBITDA including share in EBITDA of joint ventures increased by 11% to RUB 461.157 billion from RUB 415.296 billion.
