Dow and Gazprom team up for GHG reduction project

A Dow Technology Licensing product story

Edited by the Processingtalk editorial team Jun 24, 2009

The Dow Chemical Company and Gazprom Marketing and Trading have signed a memorandum of understanding (MoU) to develop and implement global greenhouse-gas (GHG) reduction projects.

Through this agreement, the companies will work together to identify projects that could cumulatively reduce millions of tons of CO2 emissions through the implementation of Dow technologies and other cooperative efforts.

Gazprom will provide a route to market for emissions offsets and utilise its global counterparty base to bring Dow's technologies to market.

Successful implementation of these projects will bolster Gazprom's carbon portfolio with additional certified offsets and drive significant reductions in global GHG emissions.

The two companies will work together to identify global projects that qualify for Clean Development Mechanism (CDM) or Joint Implementation (JI) status according to United Nations Framework Convention on Climate Change (UNFCCC) requirements.

Dow and Gazprom will also collaborate on projects in the evolving US carbon market.

Rich Wells, Dow vice-president of energy and climate change, said: 'Through this agreement with Gazprom Marketing and Trading, Dow products and technologies will have a channel to global oil-and-gas markets and we will have access to certified emission reductions.