English
• Romania could make 2 billion Euros by selling its carbon dioxide emissions certificates
• Other world giants are fighting the Russians over our share of carbon emission certificates
The carbon emission certificate brings energy giants to our table. The Ministry of the Economy, Adriean Videanu yesterday announced that several investors have already submitted letters of interest in the purchase of the carbon emissions certificates held by Romania.
Some of the interested companies include major names of the world industry, such as the London branch of Russian giant Gazprom, Mitsui, Sumitomo, Vitol or Nomura, according to the minister.
Following this deal, Romania could earn around 2 billion Euros from the sale of these certificates, money which is sorely needed due to the current budgetary constraints.
"In its Wednesday session, the government approved a memorandum which sets the type of state contract as the basis for negotiation for the sale of the carbon resources", minister Videanu said yesterday.
The state contract will be published on the website of the relevant ministry.
The Executive has also created a negotiation commission which includes the ministers of the Economy, Finance, Environment and Foreign Affairs which will also comprise a counselor of PM Emil Boc, said Videanu.
The Minister also said that the money obtained from the transaction would be used for investments in the energy sector, in reforestation campaigns as well as to cut the losses of the local administrations, by making investments from scratch for high efficiency cogeneration units. Besides, the Executive recently approved a decision which specifies the purposes for which the proceeds from the sale of the carbon emission certificates would be used.
The Russians have already had a branch opened in Romania for a year
Gazprom Marketing & Trading, the London branch, led by the company"s Deputy Chairman Alexandr Medvedev, has opened a branch in Bucharest, specializing in the manufacture, transport and distribution of electricity in July 2009, as reported first by BURSA, at the time.
The Russian giant, which is the world"s largest gas producer, has been present in Romania for several years, but only through intermediaries and only in the natural gas sector.
The Romanian headquarters of the London based company was located in the same building of Porumbaru Street (of the law firm Petru Buzescu), where Sterling Resources was located (the company involved in the Black Sea oil and gas perimeters affair).
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