Sibur sells emission reduction units JP Morgan

Sibur sells emission reduction units to JP Morgan

5:37 AM, 29th March 2012
Sibur sells emission reduction units to JP Morgan

MOSCOW, RUSSIA: As part of the largest Joint Implementation (JI) project in Russia, Sibur has sold its first batch of emission reduction units (ERUs) comprising 1.2 million tonne of carbon dioxide. The ERUs were acquired by the investment bank JP Morgan, with Sberbank Russia, the Russian carbon unit operator, coordinating the process.

The total volume of the project is 8 million tonne of carbon dioxide, a capacity achieved by the construction of the second stage of Sibur’s Yuzhno-Baliksky gas processing plant in the Khanty-Mansijsk Autonomous District. As a result of this project, which was completed in 2009, the plant’s capacity for APG processing increased from 1.5 billion cubic metre to 3 billion cubic metre per year.

Sibur has invested more than $ 250 million in the expansion of Yuzhno-Baliksky GPP and as a result, extraction of the desired cut at the plant has increased to 95 per cent overall. The new complex consists of a booster compression station, drying and low-temperature condensation sections, a propane refrigerating unit, and other auxiliary facilities.

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