Novatek, officially known as Novatek OAO, is a leading Russian company specialising in natural gas production and related services, excluding surveying activities. Headquartered in Russia, the firm operates primarily within the Russian Federation, with a focus on developing and managing natural gas fields across the region. Founded in 1994, Novatek has established itself as a key player in the natural gas industry, recognised for its innovative approach to resource extraction and processing.
The company's core offerings include natural gas production, liquefied natural gas (LNG) development, and infrastructure services that support the energy sector. Novatek’s strategic investments and technological advancements have positioned it as one of Russia’s top natural gas producers, contributing significantly to the domestic and international energy markets. Its notable achievements include expanding LNG capacity and strengthening its market presence in Europe and Asia.
+2 vs industry average
Novatek’s score of 21 is lower than 47% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Industry Intensity
Natural Gas Extraction is among the most carbon-intensive industries
Industry performance
The Natural Gas Extraction industry has reduced its overall emissions by 16% since 2018
Emissions trajectory 2020 – 2027
Reported emissions
Scope 3 accounts for ••• of total emissions.
Novatek's reported carbon emissions
Novatek, a prominent natural gas extraction and services company headquartered in RU, reported its latest carbon emissions for the reporting year 2024. The company's total greenhouse gas emissions, encompassing Scope 1, 2, and 3, amounted to approximately 204.5 billion kg CO2e.
Breaking down these figures, Scope 1 emissions were reported at about 9.6 billion kg CO2e, and Scope 2 emissions at approximately 178.1 million kg CO2e. Scope 3 emissions constituted the largest portion, totalling around 181.7 billion kg CO2e. Significant contributors to Novatek's Scope 3 emissions include the use of sold products, which accounted for about 174.3 billion kg CO2e, and downstream transportation and distribution, at approximately 7.1 billion kg CO2e.
Looking at historical data, Novatek reported total emissions of about 176.6 billion kg CO2e in 2023 and 181.5 billion kg CO2e in 2022.
Novatek has outlined climate commitments with a focus on emission reductions. The company aims to reduce its Scope 1 emissions to near zero by the middle of the current decade (by 2025), with a baseline year set for 2016 for production entities. Similarly, Novatek aims to reduce its Scope 2 emissions to near zero by 2025, also using 2016 as a baseline. Baseline years for other business lines include 2017 for hydrocarbon processing entities and 2018 for LNG entities.
The company's sustainability reports provide further details, with specific production emission factors for direct GHG emissions intensity in the upstream segment and methane emissions intensity in the upstream, processing, and LNG segments. For instance, in 2024, direct GHG emissions intensity in the upstream segment was approximately 8,400 kg CO2e per mboe.
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Novatek’s Climate Goals (2030 & 2050)
4 goals2030
The Company has set a baseline year in terms of specific GHG…
The Company has set a baseline year in terms of specific GHG emissions for each business line: 2016 for production entities, 2017 for hydroc…
2030
62% reduction in total GHG
Vs 2019 baseline. Validated by SBTi. Includes full supply chain.
2040
50% reduction in Scope 3 intensity
Across purchased goods and services and logistics.
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Scope 3 top emissions categories
3 of 15 categories disclosedSee all scope 3 categories
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Emissions comparison with industry peers
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Novatek
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