NLMK Group, a global steel company, and NOVATEK, the largest independent natural gas producer in Russia, have signed a Memorandum of Cooperation in the field of mitigating adverse climate impacts.
Cutting greenhouse gas emissions is the key focus of cooperation. NLMK Group and NOVATEK plan to jointly test CO2 capture, use and storage technologies, to develop and improve hydrogen production technologies and transportation methods, as well as the use of hydrogen fuel to reduce GHG emissions. NLMK and NOVATEK are also exploring the development of new products required to implement low-carbon technologies.
NLMK Group has achieved a significant reduction in CO2 emissions, and is among the global industry leaders in terms of emissions per tonne of steel. Over the last five years, NLMK Group has reduced its CO2 emissions per tonne of steel by 3% (from 2.04 t in 2015 to 1.98 t in 2019) amid growing production, and aims to further reduce them to 1.91 t (by another 3.5%) by 2023.
About NLMK Group
NLMK Group is the largest steelmaker in Russia and one of the most efficient in the world.
NLMK Group steel products are used in various industries, from construction and machine building to the manufacturing of power-generation equipment and offshore wind turbines.
NLMK operates production facilities in Russia, Europe and the United States. The Company steel production capacity exceeds 17 million tonnes per year.
NLMK has a highly competitive competitive cash cost among global manufacturers and one of the highest profitability levels in the industry. In 12M 2019, the Company generated $10.6 bn in revenue and $2.6 bn in EBITDA. Net debt/EBITDA stood at 0.7х. The Company has investment grade credit ratings from S&P, Moody, Fitch, and RAEX (Expert RA).
NLMK ordinary shares with a 20.7% free-float are traded on the Moscow Stock Exchange (ticker "NLMK") and its global depositary shares are traded on the London Stock Exchange (ticker "NLMK:LI"). The share capital of the Company is divided into 5,993,227,240 shares with a par value of RUB1. For more details on NLMK shareholder capital, please follow the link.
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