about us | newsletter | contact | archive | members area
Nicolae Ghibu, Certsign
Regulations will come gradually and will cover all areas»
  News:      POLITICS   |   ECONOMICS   |   ENERGY   |   INVESTMENTS   |   APPOINTMENTS   |   GREEN   |   INFRASTRUCTURE   |   REAL ESTATE   |   AGRIBUSINESS   |   DRIVING   |   CITY LIFE   |   EVENTS   |

Gazprom M&T interested in Romanian carbon trading

London-based and Russian-owned Gazprom Marketing and Trading (GM&T) is looking for opportunities in the Romanian carbon trading market

November 2009 - From the Print Edition

“A significant amount of our activity is focused on central and eastern European carbon markets, therefore any new opportunities could be complementary to our current portfolio,” Maciek Stefanski, Regional Manager Global Carbon, Gazprom M&T, told The Diplomat.
In principle, carbon transactions with private and state owned Romanian companies are of interest to GM&T, states Stefanski.
GM&T is expanding to new markets, looking to be involved in transactions on voluntary emission reduction activities and internationally traded certificates, such as carbon credits including AAUs (Assigned Amount Units).
Romania has a massive excess of carbon credits to sell. Under the Kyoto Protocol, the country has to reduce gas emissions by eight per cent based on figures for its 1989 industrial output.
This means that between 2008 and 2012 Romania has the right to emit 1,279 billion tonnes of CO2 equivalent. According to this year’s data, Romania will release 37 per cent much less than the value agreed under the Protocol between 2008 and 2012.
This is due to the mass closure of inefficient and polluting Communist-era factories and the rise of the service economy.
This means Romania can sell AAUs for each tonne of CO2 it does not emit to developed countries. Romania must then use the cash from these carbon credits for green projects that help the environment to reduce gas emissions, such as rehabilitating central heating systems of Communist-era blocks or promoting renewable energy development, including solar, wind, biomass and small hydro power.
Such a project could bring billions of free money for green projects. “The Green Investment Scheme is an instrument which can bring surefire benefits to the economy and environment in the medium and long term,” says a spokesperson for the Romanian Ministry of the Environment.
Romania is currently drawing up a law which should allow the sale of carbon credits.



COMMENTS
There are 0 comments:

 
ADD A COMMENT
 
Name
Email
Comment
Validation Code
   
 
 

0 Comments  |  12253 Views
Daily Info
The Romanian labour market needs a well-thought approach, says FIC

The Foreign Investors Council (FIC) has signaled in the past 2-3 years that its members are anticipating increasing strains on the Romanian labour market because starting with...

Romgaz posts a net profit of 1.02 billion RON in the first nine months of 2018

Romania's natural gas company Romgaz posted a net profit of 1.02 billion RON in the first nine months of 2018, a decrease of 14 per cent compared to the year-ago period. Total...

OTP Bank Romania posts 15 million Euro profit at the end of Q3 2018

OTP Bank Romania recorded a consolidated after-tax profit of 15.09 million Euro, in the first nine months of the year, almost twice as much as in the base period.

Black Sea Oil & Gas and Transgaz sign 15-year contract for the MGD Project gas production transmission into the NTS

Transgaz and Black Sea Oil & Gas signed the gas transmission contract for the transport of the Midia Gas Development Project (MGD Project) production into the National Transmi...

Almost 90 per cent of industrial and logistics stock is condensed in cities with highway access, says C&W Echinox

Romania's industrial and logistics market is currently benefitting from its best period in history, both in terms of supply and demand, with development being condensed in a n...

 
 
   
advertising

advertising

advertising

advertising

advertising

advertising

More on News
ArcelorMittal receives binding offer for European assets from Liberty

British-owned Liberty announced a conditional agreement to buy four European steel plants, employing more than 12,500 people.

The Romanian labour market needs a well-thought approach, says FIC

The Foreign Investors Council (FIC) has signaled in the past 2-3 years that its members are anticipating increasing strains on the Romanian labour market because starting w...

EBRD cuts economic growth forecast for Romania

Romania's economy will grow by 4.2 per cent this year and by 3.6 per cent in 2019, according to the most recent forecast released by the European Bank for Reconstruction an...

Romgaz posts a net profit of 1.02 billion RON in the first nine months of 2018

Romania's natural gas company Romgaz posted a net profit of 1.02 billion RON in the first nine months of 2018, a decrease of 14 per cent compared to the year-ago period. To...

MOL Group posts 835 million USD profit for the first nine months of 2018

MOL Group announced its financial results for the third quarter of 2018. With a net profit of 323 million USD in Q3, the company reached a profit of 835 million USD for the...

Black Sea Oil & Gas and Transgaz sign 15-year contract for the MGD Project gas production transmission into the NTS

Transgaz and Black Sea Oil & Gas signed the gas transmission contract for the transport of the Midia Gas Development Project (MGD Project) production into the National Tran...

Corina Popescu is the new CEO of Electrica

The Board of Directors of Electrica, one of the most valuable companies where the state is the main stakeholder, has agreed to end the collaboration with its CEO Dan Catali...