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News
The Netherlands Buys Kyoto Reductions in Bulgaria Anew
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Bulgaria's Overgas company won for the third time a tender organized by the Netherlands government under the Kyoto Protocol of the United Nations Framework Convention on Climate Change.
Overgas won in the fifth Emission Reduction Unit Procurement Tender (ERUPT 5) for Joint Implementation (JI).
The money that Overgas will receive under the contract for the purchase of Carbon Credits for a Fuel Switch project in Bulgaria will be used for the gasification of the Black Sea capital Varna. It will reduce by 60, 000 ton carbon dioxide annually for the period 2008- 2012 by switching from coal and oil to natural gas.
Overgas will invest EUR 27 M in the entire project for the gasification.
Last year representatives of the Netherlands Embassy and Overgas in Bulgaria signed the first contract for the purchase of Carbon Credits for a Fuel Switch project in Bulgaria. |
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