Marubeni concludes a Comprehensive Emission Reduction Purchase Agreement regarding ERU supply for Japanese Market with Russia's energy company, Gazprom Group
May 15, 2009
On May 8, 2009, Marubeni Corporation (hereinafter “Marubeni”) concluded a Comprehensive Emission Reduction Purchase Agreement with Gazprom Marketing & Trading Ltd. (hereinafter “Gazprom M&T”), the UK arm of Russia’s Gazprom Group, the world's largest natural gas exporter, to supply ERUs, which are carbon credits under Kyoto Protocol, for the Japanese Market.
Under the new comprehensive agreement, Marubeni aims to supply ERUs, which will be generated from Gazprom M&T’s GHG (Green House Gas) emission reduction projects through the JI (Joint Implementation) scheme under Kyoto Protocol, to the Japanese Market on an exclusive basis.
Marubeni has been participating in GHG emission reduction projects overseas, obtained emissions credits from its projects, and has sold them to other Japanese companies. Through promoting cooperation of GHG reduction in JI project with the Gazprom Group, known as the largest company in Russia, Marubeni is enpowering its function and organization to tackle the global warming issues and exploring various procurement routes of emissions credits in order to meet the diversifying needs of Japan's market.
<Outline of Gazprom Marketing & Trading Ltd.>
CEO : Vitaly Vasiliev
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