Rosneft, SPIMEX to cooperate in exchange trade in carbon units

MOSCOW, Jan 18 (PRIME) -- Russian oil major Rosneft and St. Petersburg International Mercantile Exchange (SPIMEX) have signed an agreement on cooperation in development of exchange trade in carbon units, the oil company said in a statement on Tuesday.

The company and the bourse will work on carbon management and development of the exchange trade in carbon units that appear as Rosneft reduces greenhouse gas emissions. Rosneft and SPIMEX will organize pilot auctions to sell the company’s carbon units, the oil major said.

Rosneft and SPIMEX will also develop and introduce exchange instruments to trade low-carbon oil and oil products, and create a Russian benchmark for low-carbon hydrocarbons, including oil, oil products, natural gas, and liquefied natural gas (LNG).

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