Rosneft Oil: Rosneft Expands Cooperation with SFU to Implement Environmental Forestation Project in Krasnoyarsk Territory

Rosneft signed an agreement with the Siberian Federal University at the 7th Eastern Economic Forum to carry out research and development (R&D) as part of methodological support for the implementation of an integrated environmental forestation project in the Krasnoyarsk Territory.

The project was approved by the President of the Russian Federation and involves a whole range of forestry measures with a total sequestration potential of 10 million tonnes of CO2-equivalent.

The research project will be implemented as part of the approved roadmap for cooperation between Rosneft and the Krasnoyarsk Territory government, which envisages the involvement of scientific and educational organisations in the region to assess and unlock the carbon sequestration potential of Siberian forests.

The environmental forestation project in Krasnoyarsk Territory will, inter alia, develop a concept for a carbon research centre (carbon test site) to monitor greenhouse gas concentrations and improve methodologies for assessing their sequestration by the Territory’s forests.

In addition, the R&D work will develop a methodological framework for building mathematical balance models, as well as a prototype software package that will allow Rosneft specialists to develop measures to increase the sequestration of greenhouse gases by different types of ecosystems.

The forest is a natural sequester of greenhouse gases and an effective decarbonising agent. Rosneft traditionally pays special attention to reforestation and forest conservation. The Company and its subsidiaries planted around 9.3 million tree seedlings of various species in 2021.

A key component of the Company’s long-term environmental agenda is the strategy «Rosneft-2030: sustainable energy and the global energy transition». The strategy’s priorities include reducing the carbon footprint through measures to reduce greenhouse gas emissions, improve energy efficiency, and harness the potential of natural carbon sequestration.