ONGC registers third CDM project with UNFCCC

Posted by Oil Tycoon

January 21, 2008

Efforts by Oil & Natural Gas Corporation Ltd towards sustainable development got another boost with the registration of the oil major’s third clean development mechanism project with the United Nations Framework Convention for Climate Change (UNFCCC).

The project, Flare Gas Recovery project at Uran Plant, involves reducing gas flaring from ONGC’s Uran plant and qualifies for a CDM project under fuel substitution category. This is a large-scale project with an estimated annual carbon credits (CER) of 97,740, equivalent to an annual earning of around Rs 9.3 crore of green revenue (1 CER drawing Euro 16 these days on a conservative basis).

Two of ONGC’s projects have been already registered with UNFCC. The first project, waste heat recovery and using the recovered heat for heating oil, at MS platform in Mumbai High involves recovery of heat from the exhaust of the process gas compressors and using it for heating process oil. This was registered with UNFCCC in February 2007.

The second project, upgradation of gas turbine 1 (GT 1) and gas turbine 2 (GT 2) at cogeneration plant of Hazira gas processing complex, involving more efficient energy usage by the turbines through retro fitting, qualifies for a CDM project under energy efficiency category. This project was registered in March last year.

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