JBIC Signs Strategic Cooperation Agreement with Russian Company PAO NOVATEK
Supporting Business Expansion of Japanese Companies in Russia for Decarbonization

• Region: Europe
• Energy and Natural Resources
• Others

1. The Japan Bank for International Cooperation (JBIC; Governor: MAEDA Tadashi) signed today a strategic cooperation agreement with Russian company PAO NOVATEK (NOVATEK). The purpose of the agreement is to promote cooperation for projects toward decarbonization in Russia.
     
2. In the Fourth Medium-term Business Plan, released in June 2021, JBIC aims to respond to energy transformation toward the realization of a decarbonized society. Recently, NOVATEK, which is engaged in development of natural gas, including liquefied natural gas (LNG) in Russia, has also been aiming for decarbonization by carbon dioxide capture, utilization and storage, and by utilizing renewable energy. The strategic cooperation agreement between JBIC and NOVATEK is expected to lead to the creation of business opportunities for Japanese companies toward decarbonization and a more stable supply of resources to Japan, through the exchange of information and opinions on hydrogen, ammonia, CCS^*1, CCU^*2, carbon recycling, and renewable energy in the global trend of decarbonization.
     
3. JBIC will continue to contribute toward expanding overseas business opportunities for Japanese companies and securing a stable energy supply for Japan by strengthening cooperation with important partners in resource and energy fields.
     

Note

1. *1 
   Carbon dioxide Capture and Storage (CCS) is a technology that separates and captures carbon dioxide which would become greenhouse gas and stores it in deep waterbeds or geological formations.
2. *2 
   Carbon dioxide Capture and Utilization (CCU) is a technology that separates and captures carbon dioxide which would become greenhouse gas and utilizes it.