Masdar Carbon project registered with UN
Abu Dhabi, May 30, 2011
Masdar Carbon and Abu Dhabi Gas Industries (Gasco), have announced the registration of their Clean Development Mechanism (CDM) project under the United Nations’ Kyoto Protocol.
The registration implies that Masdar and Gasco will be able to monetise Certified Emission Reductions (CERs) and generate revenues from this project as early as next year and throughout the next 10 years according to the project’s crediting period.
The retrofit project for saving fuel gas is expected to generate approximately 7,770 CERs per year. One CER equates to one tonne of carbon dioxide equivalent.
Located at the Asab and Bab gas processing plants in Abu Dhabi, the energy efficiency project has become the fifth CDM project in the UAE to be registered under the Kyoto Protocol. This is also the first Adnoc Group Company registered project and the first to adopt the CDM methodology “AMS II-D” of the United Nations Framework Convention on Climate Change (UNFCCC) in the oil and gas sector of the Mena region.
The UNFCCC-approved “AMS II-D” methodology refers to a set of guidelines that a CDM project needs to comply with to ensure that energy efficiency and fuel switching measures are undertaken at industrial facilities.
“The Gasco CDM project helps to reduce CO2 emissions through installation of a device in the flare line to considerably reduce the consumption of fuel gas, thereby ensuring lower greenhouse gas emissions,” said Badar Al Lamki, associate director of Masdar Carbon.-TradeArabia News Service