(EnergyAsia, October 27 2010, Wednesday) — Gazprom Marketing and Trading (GM&T), a subsidiary of the Russian gas major, said it has agreed to purchase all primary carbon emissions certificates (CERs) from a successfully registered CDM 26 MW wind power project in China’s Fujian province.

The CER purchase from the project in Zhangpu County owned by the Datang group is expected to generate an estimated emission reduction of 125,623 tonnes of CO2e by the end of 2012.

The project has been fully operational since December 2008 and was successfully registered as a CDM project on February 2010. The implementation of the proposed project will achieve CO2 emission reductions by replacing electricity generated by fossil fuel fired power plants, said GM&T.

The plant will generate around 51,950MWh of electricity a year for delivery to the East China Power Grid (ECPG), and result in the reduction of 47,867 of tCO2e. It will generate an estimated emission reduction of 335,069 tCO2e in the first seven years crediting period from June 2009 – May 2016.

Arthur Tait, managing director of GM&T Singapore, said: “This is a fantastic clean energy project that will not only be a source of green power to the local market, but will also be a source of carbon emissions reduction certificates. Today’s agreement will provide more liquidity to our portfolio of carbon products and will therefore help us deliver more value to our global clients.

“We remain very optimistic about the development of carbon markets on both a global and local basis. This deal was made possible by the opening of a regional office in Singapore, allowing us to develop new promising markets for GM&T in Asia.

“We hope that this is the first of many deals that we arrange with Datang group and Beijing Exchange as well as with key Chinese counterparties.”