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Ukraine Auctions ERUs

Ukraine's pipeline operator Ukrtransgaz will auction 9.8 million greenhouse gas Emission Reduction Units, or ERUs, this week, according to the First Independent Exchange, which trades energy commodities.

Ukrtransgaz, a subsidiary of Naftogaz Ukrainy, is offering 9.8 million tons of ERUs with a starting price of a 60 percent discount to the price of United Nations Certified Emission Reduction offsets at the First Independent Exchange on Feb. 24, the Kiev-based bourse said Wednesday.

Ukraine was suspended from emissions trading in October after the UN Framework Convention on Climate Change secretariat found flaws in the country's estimates of its greenhouse gas emissions before 2008.

(Bloomberg)

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