Gazprom Board of Directors approves Climate Strategy up to 2050

The Gazprom Board of Directors approved the Company's Climate Strategy until the year 2050.

The Climate Strategy is developed on the basis of Gazprom's sustainable development scenarios up to 2050. The document takes into account the goals of the Russian Federation in terms of achieving a balance between human-caused greenhouse gas emissions and their removals by no later than the year 2060.

Natural gas is the most eco-friendly energy source among fossil fuels. Due to the unique properties of natural gas coupled with the use of advanced technologies, Gazprom has the lowest carbon intensity of products among global energy companies. As there is a high share of gas in the Company's business, Gazprom is already to a considerable degree adapted to the low-carbon trend in the global economy development.

The Strategy defines the priorities for further work to be performed by the Company in the area of low-carbon development.

First of all, Gazprom will continue to expand the gas grid across Russian regions and facilitate the conversion of vehicles to natural gas. For instance, in 2022, greenhouse gas emissions were reduced by 1.446 million tons of CO2 equivalent as a result of gas infrastructure expansion and by 2.8 million tons of CO2 equivalent as a result of conversion of vehicles to natural gas.

The Company will also continue to steadily increase the energy efficiency of its business activities and adopt the best available and innovative technologies and equipment. For example, Gazprom uses mobile compressor stations (MCSs) for saving gas during repair operations at gas pipelines. Based on the results of 2022, thanks to the set of the technical measures implemented, the Company saved more than 2.3 billion cubic meters of gas, including over 870 million cubic meters through the use of the MCSs.

The Climate Strategy provides for the support of scientific research, implementation of public-awareness and educational projects in the area of climate issues, and the Company's participation in the climate initiatives aiming to further reduce the carbon footprint.

The Climate Strategy will be incorporated into the corporate planning system.