Gazprom Neft and Japanese trade and investment company Mitsui have concluded a Memorandum of Understanding on working together in implementing decarbonisation projects in Russia and other locations in which both companies operate.

The two companies plan to develop innovative solutions in implementing carbon capture and storage (CCS) projects. Gazprom Neft and Mitsui also plan to develop integrated projects on producing “blue” hydrogen and using alternative fuels in sea and river transport.

Gazprom Neft is developing partnerships with Russian and international companies covering CO2 emissions reduction, hydrogen energy and cleaner fuels. Gazprom Neft entered into a number of agreements covering these areas with major metallurgy companies throughout 2021, as well as announcing its establishment of a technology alliance — in conjunction with leading companies in the aviation industry — to develop sustainable aviation fuel (SAF).