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20 May 2008 - Russian gas monopoly Gazprom has registered to trade carbon products on the Nordic power exchange, Nord Pool, according to Reuters.
The Nordic power exchange, which acts as a single power market for Denmark, Finland, Norway and Sweden, claims to be the largest power derivatives exchange and the second largest exchange for European Union emission allowances (EUA) and global certified emission reductions (CER) trading.
Nord Pool is one of Europe's major carbon trading hubs with 130 members.
Nord Pool has traded and cleared 33.7m tonnes of EUAs and CERs in the first two months of 2008, more than triple the volumes registered for the same period in 2007, according to Reuters.
Keith Martin, director of front office operations at Gazprom Marketing & Trading, said: "We have built multi-commodity trading capability and now trade globally in products such as gas, power, liquefied natural gas and carbon. We seen the carbon market as one of great significance for us going forward, so becoming a member of Nord Pool is an important step in building our market presence."
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