Clean Development Mechanism
As part of the company’s portfolio diversification, and value addition to the government of the Sultanate of Oman, OTI is assisting the Ministry of Oil and Gas and other private entities to develop Clean Development Mechanism (CDM) projects in the country.
OTI assisting MOG in developing CDM projects.
About CDM
CDM under the Kyoto Protocol, is the only flexibility mechanism that involves developing countries. It allows developed nations to achieve part of their reduction obligations through projects in developing countries that reduce emissions or ‘fix’ or sequester CO2 from the atmosphere. Developing nations on a voluntary basis, can contribute to global emission reductions by hosting projects under the Clean Development Mechanism.
The greenhouse gas benefits of each CDM project will be measured according to internationally agreed methods and will be quantified in standard units, known as ‘Certified Emission Reductions’ (CERs). Ultimately, OTI trades such CERs in the international market to the client’s benefit.