Vientiane Times, November 27, 2012
Gazprom Marketing and Trading Singapore Pte., Ltd. have agreed to buy carbon credits from the under-construction Nam Khan II hydropower project in Luang Prabang province, via the clean development mechanism.
Mr Thongphet Doungngeung ( *left *) shakes hands with Mr Serguei Edrenkin after signing the agreement in Vientiane.
Once built, the plant will have a capacity of 126MW, giving it the potential to offset more than 312,000 tonnes of carbon emissions a year.
The Emissions Reduction Purchase Agreement (ERPA) between the two parties was signed in Vientiane yesterday by Deputy Managing Director of Electricite du Laos (EDL), Mr Thongphet Doungngeung, and General Director of Gazprom Marketing and Trading Singapore Pte., Ltd, Mr Serguei Edrenkin.
The document was signed and witnessed by the Director of the Transmission Line and Substation Development Department, Mr Khen Thepvongsa, and the head of Origination Clean Energy at Gazprom Marketing and Trading Singapore, Mr Franck Bernard.
The ceremony was attended by Deputy Minister of Energy and Mines, Mr Khammany Inthilath, along with other government officials and company representatives.
EDL agreed to sign a memorandum of understanding with Asianet Service., Ltd. in October last year, engaging them to work as consultants and connecting EDL with potential customers in the global carbon offset market.
The clean development mechanism of the Nam Khan II Hydropower Plant will be jointly administered by EDL and Asianet Service., Ltd. Gazprom sent the ERPA to EDL for consideration some time ago, and received approval from the state enterprise to proceed with the proposed purchase.
After concluding the agreement, EDL will oversee the design of proposal documents to be submitted to the United Nations Framework Convention on Climate Change, in order to register the clean development mechanism.
Gazprom Marketing and Trading Singapore Pte., Ltd. operate in the gas, petroleum and energy fields, with their head office located in Singapore.
Laos still has more than 10 other hydropower plants with the potential to sell carbon credits, and EDL has already been contracted to sell carbon to other overseas companies.