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Gazprom, Nord Pool strike deal on carbon trade

Russian energy giant Gazprom has signed a carbon trading deal with the Nordic power exchange Nord Pool

-We have built multi-commodity trading capability and now trade globally in products such as gas, power, LNG and carbon. We see 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, Keith Martin, director of front office operations at Gazprom Marketing & Trading says in a press release.

Gazprom began carbon trading in 2006 and recently signed a major deal with Japan’s Marubeni Corporation.

Nord Pool is the single power market for Norway, Denmark, Sweden and Finland. It is the largest power derivatives exchange and the second largest exchange in European Union emission allowances (EUAs) and global certified emission reductions (CERs) trading. The company has offices in Lysaker (Oslo), Stockholm, Helsinki and Amsterdam.