Feb. 22. 2008
Marubeni Corporation (‘’Marubeni’’) announced today that it had concluded with Gazprom Marketing & Trading Ltd.(“Gazprom M&T”) their first transaction of forward delivered carbon credit under the Kyoto Protocol.
Marubeni already made an emission trading master agreement in Jan.2008 with Gazprom M&T, which is a wholly-owned subsidiary of Russia's largest energy company, Gazprom Group. Marubeni concluded the Forward Delivered Carbon Credit Transaction based upon the above master agreement with Gazprom M&T in Feb.2008.
This credit is to be delivered in Dec.2008.
In addition, Marubeni agreed in principle with Gazprom Group on a pre-study of feasibilities for comprehensive joint implementation for a GHG (Green House Gas) emission reduction and energy efficiency project.
The 1-st commitment period of the Kyoto Protocol commenced in 2008 and with it, the concern for global warming issues is growing. Many companies will consider contributing to the global environment by using carbon credits. Marubeni has participated in GHG emission reduction projects overseas, obtained emissions credits from its projects and has sold these to other Japanese companies. Through its cooperation for GHG reduction with Gazprom Group, which is Russia's largest company, Marubeni is empowering its function and organization to tackle the global warming problem and exploring various procurement routes and supply sources of emissions credits in order to meet market's diversifying needs.
Outline of Gazprom Marketing & Trading Ltd.
President & CEO : Andrey Vladimirovich Mikhalev
Location : 60 Marina Place, Hampton Wick Kingston Upon Thames Surrey KT1 4BH, U.K.
Outline of Business : Trading of Gas, Power, Oil and Carbon Credit