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Qatar Proposes 'New Methodology' to Credit CO2-Capture Projects
2010-11-08 18:17:30.759 GMT
By Robert Tuttle and Ayesha Daya
Nov. 8 (Bloomberg) -- Qatar submitted a proposal to amend
the United Nations' emissions-trading market to include carbon-
capture and storage projects, the country's oil minister said.
"Qatar Petroleum has officially submitted to the UN a
proposal for a new methodology that could enable carbon dioxide
capture and storage in geological formations to be part of the
Clean Development Mechanism," Qatari Minister Abdullah al-
Attiyah said today at a conference in Doha. "We believe that
Qatar's proposal, if adopted, could make a major contribution to
controlling the global emissions of carbon dioxide."
Adding carbon-capture to the list of projects approved by
the UN, which runs the world's second-biggest emissions market,
will be debated at global climate talks starting Nov. 29 in
Cancun, Mexico. The process involves piping CO2 into storage
underground or aging oil fields before its escapes into the air.
Qatar and the United Arab Emirates are among the first oil
producers in the Middle East to seek UN credits for alternative-
energy projects. Qatar has registered a project to reduce
flaring of natural gas from the Al-Shaheen oil field.
Qatar qualified for UN credits known as offsets, designed to
encourage richer countries to finance carbon-reductions in
developing nations. China and India together have supplied 68
percent of UN offsets so far.
For Related News and Information:
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--With assistance from Mathew Carr in London. Editor: Mike
Anderson.
To contact the reporter on this story:
Robert Tuttle in Doha at +974-4452-8148 or
rtuttle@bloomberg.net
To contact the editor responsible for this story:
Mike Anderson at +44-20-7673-2718 or
manderson34@bloomberg.net
