MOSCOW, June 28 (RIA Novosti) - The deputy chairman of the managing board of Unified Energy Systems Russia, a state-run energy holding, said the mechanisms of the Kyoto protocol were a source of co-financing the company's investment program.
The official, Yakov Urinson, today signed an agreement on the sale of quotas under the Protocol between two UES subsidiaries, Khabarovskenergo and Orenburgenergo, and the Danish Environmental Protection Agency.
He stressed the development of the Russian economy and GDP growth required "considerable cutbacks in energy consumption".
"We [UES] estimate that in order to attain GDP targets by 2010, it is necessary to increase the consumption of primary energy resources by 14%, which must mean a 30% fall in energy consumption," Urinson said.
According to him, two factors will be prioritized: expanding the share of non-power intensive industries and cutting back on power-intensive production.
"The modernization of thermal power plants that include the installation of combined cycle gas turbines alone will slash the annual consumption of equivalent fuel by 50 million metric tons and reduce greenhouse gas emissions by 90 million metric tons," the UES representative said.
The official emphasized that 2005 was a landmark year for the energy holding.
"We intend to lay a serious foundation for the implementation of the Kyoto protocol this year," Urinson said.
He added that the agreement on the sale of emission quotas between the holding's subsidiaries and the Danish agency was a pilot project, which would encourage the Russian government to accelerate the implementation of projects within the framework of the Kyoto protocol.
