Lukoil Implements First Project under Kyoto Protocol
OREANDA-NEWS. February 17, 2012. LUKOIL’s wholly owned subsidiary ОАО “RITEK” has sold 365 thousand tons of carbon units in the European emissions market pursuant to the Kyoto Protocol (1 carbon unit equals 1 ton of greenhouse gas emissions abatement in СО2 equivalent).
The Company managed to reduce emission volumes through three associated gas utilization projects at Sredne-Khulymskoye, Vostochno-Perevalnoye and Serginskoye oil fields in
LUKOIL intends to invest the receipts from carbon unit trades in new emission abatement and associated gas utilization projects.
Today, emissions abatement portfolio of LUKOIL Group in Russia includes 14 projects, implemented by OOO “LUKOIL-Permnefteorgsintez”, OOO “LUKOIL-Permneftegazpererabotka”, OOO “LUKOIL-Astrakhanenergo” and OOO “LUKOIL-Kubanenergo”. These projects allow reduction of greenhouse emissions by 33 million tons of СО2 equivalent in 2008 – 2012.