* Project is organised with Mitsubishi Corp and Nippon Oil
* It requires Gazprom to utilise gas previously flared
MOSCOW, Aug 4 (Reuters) – Russia’s Gazprom Neft (SIBN.MM: Quote), an oil arm of energy giant Gazprom (GAZP.MM: Quote), said on Wednesday it received approval for an emissions reduction project worth 3.1 million ERUs it is implementing with Japanese firms.
Russia last month gave the green light for 15 clean energy projects to earn carbon credits under the Kyoto Protocol, a long-awaited move that could unlock around 2.7 billion euros ($3.6 billion) in carbon finance for over 100 projects held up by bureaucratic red tape. [ID:nLDE66P15S]
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