No single cause for Macondo accident
BP says no single factor caused the accident on the Deepwater Horizon rig in the US Gulf of Mexico in April.
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Joint carbon cutting venture
Published 19.01.2010 11:45:36 by John Bradbury
Middle East based Masdar and Germany utility E.ON have signalled their intention to form a joint venture through which to roll out carbon capture technology internationally.Renewable energy-focussed Masdar, headquartered in Abu Dhabi and part of Mubadala Development Company, and E.ON, which is already a player in the European renewable energy sector with stakes in offshore wind farms, have said they will establish EMIC – E.ON Masdar Integrated Carbon, to promote carbon emission reduction projects.
“EMIC will capitalise on the growth in the carbon market to monetize emission reductions resulting from improving the energy efficiency of industrial facilities,” Masdar and E.ON declared in a joint statement.
“The company will develop, finance and implement projects in the Middle East, Africa and Asia with a particular focus on power generation and oil and gas,” they stated.
Funding for emissions reduction programmes will come from carbon credits and traded under the United Nations' Clean Development Mechanism, or other future climate trading schemes.
Specifically, EMIC will aim for “large carbon abatement reduction potential,” and this will include fuel switching, open cycle to combined cycle gas turbine conversion, plus gas pipeline leakage reduction and projects to reduce in gas flaring.
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