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Presently oil production at the Yarakta field releases a solution or petroleum gas which is utilized as a fuel, but mostly flared. Upon construction of the Gas Cycling Facility, associated petroleum gas will be re-injected into the reservoir, resulting in significant reductions of greenhouse gas emissions (GHG).

As a result of implementation of the gas re-injection project at the Yarakta field, carbon credits will be generated via the Joint Implementation (JI) mechanism under the Kyoto rule. Generated emission reduction units (ERUs) will be sold to Stitching Carbon Purchasing Intermediary as per the Emission Reduction Purchase Agreement (ERPA) executed in August 2009.

Specialists at Green Stream Network Plc, the company acting as a carbon manager for the carbon credit fund set up by EBRD, have developed the Project Design Documentation for its subsequent international expertise in the determination process.

An independent certified entity, Bureau Veritas (BV), has performed determination of the JI project. The project has undergone the public discussion procedure on the BV website. The project determination report was issued in June 2010.

Bureau Veritas Certification auditors analyzed the project design documentation and they conducted interviews with project participants. They determined that construction of the gas cycling facilities leads to additional emissions reduction of greenhouse gases, amounting to over 588 tons of CO2 equivalent over the period from July 1, 2011 to December 31, 2012. The project conforms fully with the requirements of Article 6 of the Kyoto Protocol to the United Nations Framework Convention on Climate Change and Russian Federation legislation. Independent experts state that the project can be recommended for approval by Russia’s Ministry of Economic Development in accordance with Article 6 of the Kyoto Protocol and

Russian Federation government Decree #843 dated October 28, 2009.

The company applied for a tender on JI projects held by Sberbank, Russia’s national dealer in carbon credits in the October of 2010.Upon successful selection by the Sberbank tender committee, the company can reserve the ERUs as per the determination report. Furthermore, the company needs only to verify emissions in the completed reporting periods, and as per ERPA the money for generated ERUs will be transferred to the Seller’s operating account.


 Other projects: ESPO pipeline projectOil Treatment FacilityGas Cycling Facility


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