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Gazprom Marketing & Trading (GM&T), a subsidiary of Russian gas company Gazprom, has partnered with renewable energy firm ecolutions to develop emissions-reduction projects in China.
The two entities are targeting the market for Clean Development Mechanism (CDM) projects, under the Kyoto Protocol.
Under the co-operation agreement, ecolutions will develop CDM projects through equity investment or carbon credit off-take, while GM&T will provide route-to-market for the certified emissions reductions generated by the projects.
Vitaly Vasiliev, chief executive officer of Gazprom Marketing & Trading, says the co-operation agreement will add to the firm’s existing work in the Southeast Asia region. “The trading and optimisation capabilities we can offer combined with the local and project financing expertise of ecolutions creates a good platform for long-term co-operation in China and beyond,” he says.
Dietram Oppelt, CEO of ecolutions, says the firm has already built up a pipeline of projects over the past two years. “The partnership with GMT enables us to effectively sell the carbon credits and make the projects commercially viable,” he says.
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