Liberty Galati Needs Funds to Buy CO2 Certificates Sold Last Year
Liberty GalatiRomanian Insider

Liberty Galati Needs Funds to Buy CO2 Certificates Sold Last Year

Romania Insider reported that according to Ziarul Financiar quoting FT GFG Alliance’s Liberty Steel’s Romanian subsidiary Liberty Galati urgently needs

Romania Insider reported that according to Ziarul Financiar quoting FT GFG Alliance’s Liberty Steel’s Romanian subsidiary Liberty Galati urgently needs EUR 100 million to purchase the CO2 certificates that it sold last year. The Romanian plant is reportedly in talks with sister company Liberty Ostrava from the Czech Republic to obtain the certificates that the Czechs did not use.

Under the ETS scheme operated by the European Union, Liberty Galati received some EUR 100 million worth of CO2 certificates. However, the company sold them, planning to repurchase them from the market this April when it has to return to the EU the certificates corresponding to the previous year's CO2 emissions.

An additional challenge for Liberty Galati is the sharp rise in the price of CO2 certificates in recent weeks. Advertisement

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