Carbon credit international market at their current market price"”. There are two main markets for carbon credits; Compliance Market credits Secondary / Verified Market credits (VERs) The burning of fossil fuels is a major source of greenhouse gas emissions, especially for power, cement, steel, textile, fertilizer and many other industries which rely on fossil fuels (coal, electricity derived from coal, natural gas and oil). The major greenhouse gases emitted by these industries are carbon dioxide, methane, nitrous oxide, hydrofluorocarbons (HFCs), etc., all of which increase the atmosphere's ability to trap infrared energy and thus affect the climate. The concept of carbon credits
Carbon capture and storage development completed in 2018. The source of carbon dioxide is the nearby Changling gas field, from which natural gas with about 22.5% CO is extracted. After separation at the natural gas processing plant, the carbon dioxide is transported to Jilin via pipeline and injected for a 37% enhancement in oil recovery at the low-permeability oil field. At commercial capacity, the facility currently injects 0.6 MtCO per year, and it has injected a cumulative total of over 1.1 million tonnes over its lifetime. The Sinopec Qilu Petrochemical Corporation is a large energy and chemical company currently developing a carbon capture unit