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According to reports, Liaoyang Petrochemical's nitrous oxide reduction CDM project is China Petroleum's first CDM carbon trading project. It has been publicized by the UN Climate Change Framework CDM Executive Board, and carbon indicators have been formally issued.
The Clean Development Mechanism is an emission reduction mechanism set in accordance with the Kyoto Protocol. Developed countries provide funds and technologies to help developing countries reduce their greenhouse gas emissions, and emission reductions, after being certified by international agencies, can be used to offset the restrictive obligations promised by developed countries.
Oxynitride, commonly known as nitrous oxide, is one of the six types of greenhouse gases that are clearly specified in the Kyoto Protocol, and its greenhouse effect is 310 times that of carbon dioxide. Liaoyang Petrochemical releases more than 40,000 tons of dinitrogen oxide per year. After the emission reduction device is built and started, it converts the nitrous oxide produced into oxygen and nitrogen, which can reduce carbon dioxide emissions by more than 10 million tons per year.
Lian Chenghui, general manager of PetroChina Liaoyang Petrochemical Company, said that the nitrous oxide reduction CDM project has brought about a new choice for emission reduction. The company has come up with a new way to make full use of international capital and technology to operate in energy conservation and emission reduction. The company only reduces emissions of nitrous oxide, which not only reduces CO2 emissions by 10 million tons per year, but also obtains a certain amount of clean development funds.
China Petroleum's First CDM Project Passes International Approval
PetroChina Liaoyang Petrochemical Company's nitrous oxide emission reduction clean development mechanism (CDM) project has officially passed international approval recently, with the first batch of nearly 1 million tons of carbon indicators approved for trading.