EUROPE: ONGC and StatoilHydro to screen “carbon” projects. Clean development mechanism

EUROPE: ONGC and StatoilHydro to screen “carbon” projects. Clean development mechanism
StatoilHydro and Indian oil company ONGC have agreed to jointly projects for carbon capture and storage, or CCS, and Indian projects that curb emissions under the United Nations clean development mechanism, or CDM.

Norwegian Prime Minister Jens Stoltenberg and Nobel Peace Prize winner Dr Rajendra Pachauri were also present at the signing.

“The agreement is an excellent start for developing environmental projects and technology transfers,” a statement said.

Indian oil champion ONGC employees 40,000 to tackle onshore and offshore projects, and now renewable energy.


CCS includes the post-combustion removal of carbon from gas and coal power plants, while CDM refers to anything from energy-saving windows to wind power.




Source: Scandoil

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