Tuesday, January 15, 2008

Ecosecurities Dubai/UAE Carbon Deal (ECO.L)

From Reuters:

Dubai Multi Commodities Centre (DMCC) said on Tuesday it signed a deal with two United Arab Emirates firms to help develop clean energy projects in the oil exporting region.

Crescent Petroleum and Dana Gas DANA.AD are eyeing oil and gas projects in the Middle East that could cut greenhouse gas emissions and generate carbon emissions reduction certificates (CER).

The DMCC's main partner, UK-based carbon-credit firm EcoSecurities (ECO.L: Quote, Profile, Research), and the two companies will later look at similar projects worldwide.

"Our emphasis will be on the Middle East and we have already started in Egypt. But we will be looking at companies outside the region," said Badr Jafar, Crescent Petroleum's executive director....MORE