2026-04-13 15:31:19
Latest Post
Unichem Pharmaceuticals (USA) Issues Voluntary Recall of Buspirone Hydrochloride Tablets
Coforge receives all Statutory and Regulatory Clearances for Encora acquisition
Texmaco Rail & Engineering Ltd receives order worth Rs. 23.57 crores
GHV Infra Projects Ltd inks construction contract worth Rs. 1250 crores
JASH Engineering Limited - Business Update
Stock Report
ONGC, the only Central PSU to achieve Successful CDM Validation - a breakthrough
Posted On : 2006-12-18 21:35:29( TIMEZONE : IST )
December 18, 2006
The project ‘Waste Heat Recovery from Process Gas Compressors (PGCs), Mumbai High South (Offshore platform MSP) and using the recovered heat to heat process heating oil’, received Clean Development Mechanism (CDM) validation from the Designated Operational Entity (DOE) on December 14, 2006.
Speaking on the occasion, G M (Alternate Energy) & Carbon Credits, Mr. A B Chakraborty said, “CDM validation is an extremely difficult, complicated and tedious process in the whole CDM cycle”. He informed that CDM validation success of other projects is expected soon.
The validated project has been submitted to the UNFCCC for registration.and it would be subject to an assessment of four weeks. It would be followed by the registration procedure.
Accepting the first validated report, Director (Onshore), Mr. A K Hazarika, expressed satisfaction over the CDM process and hoped that ONGC would soon be on the global pedestal among environmentally sensitive companies.
A new chapter has begun in ONGC in the area of climate change with participation in the Kyoto Protocol - the international treaty of ‘Clean Development Mechanism’ (Carbon Credits).
Clean Development Mechanism (CDM) is an investment proposition through which developed countries could invest in a GHG mitigation project in a developing country. CDM is also mandated to assist developing countries in achieving sustainable development. The project proponent can now trade the CERs with the buyer identified. The proponent could sign an Emission Reduction Purchase Agreement (ERPA) with the buyer (an entity in the Annex 1 country) at a pre-defined rate of CER.
“Thirteen CDM projects developed so far, fall under the category of gas flaring reduction, waste heat recovery and energy efficiency based on the approved UNFCCC methodologies. The projects are under validation process executed by a UNFCCC accredited agency. The development of further projects is in progress”, Mr. Chakraborty informed.
ONGC has been the first Central PSU to develop CDM projects, receive validation and submit the project to UNFCCC for registration.
