SIBUR attains the largest portfolio of climate projects among Russian companies

MOSCOW, RUSSIA - Media OutReach Newswire - 11 January 2024 - The Russian Registry of Carbon Units has welcomed three new climate projects by SIBUR implemented at its facilities in Nizhnekamsk, Tomsk, and Dzerzhinsk.

Their implementation is expected to secure a combined GHG reduction of over 6 million tonnes of CO₂-eq. until 2032.

According to the Russian Registry of Carbon Units, SIBUR now holds the largest portfolio of projects to reduce СO₂ emissions among Russian businesses.

The climate project at Nizhnekamskneftekhim involves utilising the facility's by-products at its own combined cycle gas turbine (CCGT) plant to generate electricity. This helps decrease the consumption of natural gas, ramping down greenhouse gas emissions.

The climate project at Sibur-Neftekhim aims to reduce greenhouse gas emissions by improving energy efficiency in the production of ethylene oxide and glycols. Gas coolers installed in the facility's production area enable the recovery of additional steam from the waste heat generated during the production process, which is then utilised for the production of ethylene oxide and glycols. As a result, the boiler house now consumes less natural gas.

As part of the Tomskneftekhim climate project, the overheated steam from monomer production is directed to a turbine generator. This enables the production of polyethylene using self-generated energy, eliminating the reliance on grid electricity derived from fossil fuel combustion.

All the climate projects have been fully endorsed by validating organisations, including Innopolis University and the CIS Member States Coordination and Information Centre for Regulatory Convergence, that confirmed their compliance with the GOST R ISO 14064-3-2021 standard.

Elena Myakotnikova, Head of SIBUR's Climate Initiatives and Carbon Regulation: "In 2023, SIBUR made remarkable progress in the carbon market. We successfully implemented and validated climate projects at five of our facilities, recorded carbon units in the national registry, and made the first exchange transactions to sell them, helping several companies offset their carbon footprint. Our climate projects meet rigorous quality standards, which results in high demand for SIBUR's carbon units. With this valuable experience, we are committed to strengthening our climate leadership further."

Oksana Gogunskaya, CEO of Kontur, operator of the Russian Registry of Carbon Units: "To date, no other company in Russia has validated such a diverse range of climate projects as SIBUR. As at the beginning of 2024, its climate initiatives account for nearly one third of all the projects recorded in the Russian Registry of Carbon Units. This reflects the Company's steadfast commitment to decarbonisation and its leadership's astute understanding of the promising opportunities presented by the carbon market."

Hashtag: #SIBUR

The issuer is solely responsible for the content of this announcement.

• Prev
• Next