Norway To Sell 12.7 Million EU Emissions Allowances To Market In 09
May 18 2009 - 3:05AM
Dow Jones News
Norway's finance ministry Monday said it will sell 12.7 million
European Union emissions allowances, or EUAs, in the market in 2009
through Barclays Capital (BARC.LN).
Norway is linked to the European Union Emissions Trading Scheme,
or ETS, for which the allocation plan for phase II, between 2008
and 2012, was adopted in March 2009.
The volume to be added to the ETS by Norway is around 75 million
EUAs of carbon dioxide, or 15 million EUAs annually, the finance
ministry said. Of the total, 39 million EUAs have been allocated to
Norwegian industry and 4.2 million to a new entrants reserve, with
the balance of 31.8 million to be sold in the market.
Barclays Capital has been awarded the contract to conduct sales
in 2009 and the ministry of finance said it has an option to make
further sales through Barclays in the 2010-2012 period.
"Starting on May 18 and ending Nov. 13, Norway will sell regular
volumes of EUAs, on a daily basis, through a combination of spot
and December 2009 deliveries," the ministry said. "At the outset,
50% will be sold on a spot basis and 50% for December 2009
delivery," it added.
Ministry Web site: www.regjeringen.no
-By Elizabeth Adams, Dow Jones Newswires; +44 (0) 20 7842 9386;
elizabeth.adams@dowjones.com
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