Repsol YPF registers with the United Nations as a Clean Development Mechanism (CDM) the project to reduce emissions of greenhouse gases at the company’s La Plata Refinery (Argentina)

Press Release 24/01/2011 00:00
  • Repsol purchases Eurotek, an exploration and production company with assets in the Russian Federation for a cash consideration of US$230 million, approximately.
  • Among the acquired assets there are two gas fields: Syskonsyninskoye (SK), which is at an advanced development stage and will start production in 2012 and Yuzhno-Khadyryakhinskoye (YK) which is under the final stage of appraisal.
  • In 2012, subject to the receipt of necessary governmental approvals, Repsol will contribute these assets at cost to AROG, the recently created joint venture in partnership with Alliance Oil Company, as part of Repsol´s commitment in cash and kind.
  • AROG will carry out oil and gas exploration and production operations in the Russian Federation, the biggest hydrocarbons producer in the world.

24 January 2011 - 00:00 CET | PDF | 25.48 KB

Repsol YPF has registered with the United Nations its La Plata refinery industrial project as a Clean Development Mechanism, the first of its kind in the world. 

CDMs, a tool laid out in the Kyoto Protocol, allow the development of emissions-reducing projects which favour sustainable development and the implementation of clean technologies in the countries where the investment is made.

The project carried out by Repsol at its Argentine La Plata refinery will increase energy efficiency by reducing the demand for fuel oil and natural gas, allowing an annual emissions reduction of approximately 200,000 tonnes of carbon dioxide.

Repsol has developed a comprehensive strategy to combat climate change, part of which is the development of CDMs as an efficient way of achieving emissions-reduction objectives, as well as promoting investment in investigation, innovation and technical improvement in the countries in which the company operates.

Repsol’s climate-change strategy recently won recognition as being amongst the world’s best by the Climate Disclosure Leadership Index (CDLI) and the Climate Performance Leadership Index (CPLI).