28 August 2007 12:15 [Source: ICIS news]
MOSCOW (ICIS news)--Russian chemicals producer Schekino Azot and Jersey-registered Camco International have signed an emissions agreement on a joint implementation project (JIP) under the Kyoto Protocol, a Camco spokesman said on Tuesday.?xml:namespace>
The project would cut Schekino's consumption of natural gas by 22m cubic meters a year and the plant's emission of carbonic gases by 200,000 tonnes from 2008-2012, the spokesman told ICIS news.
Under the JIP programme, Russian companies will receive energy-saving technologies from foreign investors in exchange for greenhouse gas quotas saved from a project's implementation.
In May 2007, the Russian government appointed its Economic Development and Trade Ministry to coordinate the programme. The ministry estimated the country could sell emission quotas amounting to 2bn tonnes of carbonic gases, including 200-300m tonnes of emission credit. The ministry will accept JIP applications between 1 January 2008 and 31 December 2012.
Camco is a leading climate change group with one of the world's largest portfolios of carbon credits.
Schekino Azot, based in Russia's ?xml:namespace>
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