Page 12 - FSUOGM Week 08 2022

FSUOGM ENERGY TRANSITION FSUOGM

Russia outlines hydrogen

aspirations in draft plan

RUSSIA RUSSIA could be producing as much as 2.2mn for hydrogen development in August 2021,
tonnes annually of hydrogen for export as an which outlined the creation of specialised
Russia could be energy source by 2030, the country’s energy clusters and the implementation of pilot pro-
producing as much as ministry said in a draft plan on February 18, jects for producing and exporting hydrogen
2.2mn tonnes per year bringing in $12.7bn in revenues. over the next three and a half years. Large
of hydrogen for export Creating clusters for hydrogen development export-oriented production facilities will be
as an energy source by in Russia will cost $33.4bn by the end of the opened at a later stage. Deputy Prime Min-
2030, according to the decade, but Russia could potentially increase its ister Alexander Novak estimates that Russia
ministry. GDP by 0.25-0.47% per year between 2025 and could account for about a fifth of the global
2050, according to the plan. Hydrogen develop- market for hydrogen, if it pushes ahead with
ment could create between 493,000 and 940,000 development fast enough.
jobs, and earn RUB3.9-5.6 trillion ($50-72bn) in Russia is eager to carve out a role for itself in
tax receipts. the energy transition taking shape in Europe
By 2050, hydrogen exports could account for and Asia, and sees an opportunity for convert-
a third of the country’s sales of energy resources, ing some of its vast natural gas reserves into
the plan stated. Japan, Korea and Germany are low-carbon, so-called blue hydrogen. Federal
seen as key initial markets for the fuel. agencies, research institutes and various com-
The energy ministry also anticipates that panies including Rosatom, Rosneft, Gazprom,
hydrogen-fuelled vehicles will be as common as Gazprom, Novatek, Sibur, Kamaz, Sistema, Ros-
electric equivalents by 2025. tec and Rusnano have all come together to form a
Russia’s government approved a concept working group to study hydrogen plans. ™

PROJECTS & COMPANIES

Russian regulators clear

Gazprom Neft-Lukoil JV

RUSSIA RUSSIAN anti-monopoly regulators have in June 2021, predicting that it will flow 1.7mn
approved the creation of a joint venture between tonnes (34,000 barrels per day) and 8 bcm of gas
The purchase will give Gazprom Neft and Lukoil to exploit a group of at peak capacity.
Lukoil new greenfield oilfields in Western Siberia. Gazprom Neft had previously wanted to work
projects in Russia, The Federal Antimonopoly Service (FAS) at the Meretoyakhaneftegaz fields with close
where its output has said on February 21 that it had cleared Lukoil’s Western partner Shell, but the latter pulled out
been decliining steadily acquisition of a 50% stake in Meretoyakhaneft- of the plan in April 2020, citing the “challenging
in recent years. egaz, owned by Gazprom Neft, after ruling external environment.” The exit was announced
that the tie-up did not undermine competi- just after oil prices collapsed as a result of coro-
tion in Russia’s upstream sector. Lukoil previ- navirus restrictions.
ously agreed to pay Gazprom Neft RUB52bn The purchase will give Lukoil new green-
($695mn) for half of the joint venture, which field projects in Russia, where its output
controls fields in the Nadym-Pur-Tazovsky area has been declining steadily in recent years.
of Western Siberia’s Yamalo-Nenets region. Lukoil has been struggling to find new ave-
The assets include the Tazovskoye, Seve- nues for growth in Russia, as many of the
ro-Samburgskoye and Meretoyakhinskoye most promising prospects in Russia’s fron-
fields, as well as the two Zapadno-Yubileiny tier regions have been snatched up by state-
licence blocks. They are estimated to hold more owned companies.
than 1bn tonnes (7.3bn barrels) of oil and around The partners have committed to a
500bn cubic metres of gas in initial in-place RUB8.9bn study programme at the fields that
resources combined. The deal is set to be closed will be financed by Lukoil. They have not dis-
sometime this year. closed details of specific seismic and drilling
Gazprom Neft brought Tazovskoye on stream plans. ™

P12 www. NEWSBASE .com Week 08 23•February•2022