Rosneft Plans To Build Three Carbon Capture Storages Hubs By 2030

Rosneft plans to build three carbon capture storage (ССS) hubs by 2030 as part of a strategy that will see Russia’s largest oil producer become carbon-neutral by 2050, its first vice president said. Didier Casimiro also told reporters on Monday that the company was aiming to reach its target for the share of the natural gas in overall production “regardless of export potential”.

Rosneft approved a new strategy targeting net zero emissions by 2050 in December. Under the strategy, the share of natural gas in total hydrocarbon production will grow to 25% by 2025.

(Reporting by Olesya Astakhova; writing by Maria Kiselyova; Editing by Kirsten Donovan)