By Jaime Llinares Taboada

Novatek said Friday that it has signed an agreement with Germany energy company Uniper SE to develop a hydrogen business.

Novatek, Russia's second-largest gas producer, said both companies will develop a hydrogen production, transportation and supply chain, which will include hydrogen supplies to Uniper's power stations in Russia and Western Europe.

Novatek said the agreement is for producing both blue hydrogen from natural gas, and green hydrogen from renewable energy sources.

"Although in its infancy, the development of commercially scalable production of low carbon hydrogen, together with our joint cooperation with Uniper, one of the leading international energy companies, will allow us to create a solid foundation for building effective long-term relationships in the field of low carbon energy," Chairman Leonid Mikhelson said.

Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT

(END) Dow Jones Newswires

January 29, 2021 05:37 ET (10:37 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.
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