TABLE-Kyoto carbon offset supply on the rise

Jan 29 (Reuters) - The issued supply of Kyoto Protocol carbon offsets has
grown by a fifth in the past three months, new United Nations data show.

The issuance of Certified Emissions Reduction (CER) credits, handed out to
clean energy projects registered under Kyoto's Clean Development Mechanism
(CDM), rose for a second straight quarter ended in December. [ID:nLS218311]

CDM project developers have long blamed administrative bottlenecks at the
U.N.'s climate change secretariat for delays in project registration, which they
say have led to a choked distribution of CERs.

CER supply grew by 45.7 million last quarter, up 29 percent from 35.5
million issued in the third quarter of 2008 and up 73 percent from 26.4 million
issued in Q2.

Issuances picked up late last year with a record 21 million CERs handed out
to projects in November and another 15 million in December, the second largest
amount distributed in a month.

CERs CEREZ9 have plummeted some 60 percent since hitting an all-time high
of 24.38 euros ($31.89) a tonne last July. CERs for delivery in Dec. 2009 traded
at 10.30 euros on Thursday.

Although the stream of CERs is growing, a majority of the offsets are going
to a group of 10 industrial gas destruction projects.

Below is a list of the top 10 recipients of CERs as of Jan 28. These
projects account for over 60 percent of the CERs issued so far.
RANK U.N. PROJECT OWNER HOST PROJECT TOTAL CERs

REF # COUNTRY TYPE RECEIVED

1 0099 Rhodia (RHA.PA) S.Korea N2O 25,647,813
2 0306 Shanghai 3F (600636.SS) China HFC 20,135,976
3 0001 Gujarat Fluorochemicals (GFLR.BO) India HFC 18,293,679
4 0232 Dongyue Group (0189.HK) China HFC 16,059,798
5 0011 Jiangsu Meilan Chemical Co. China HFC 15,952,466
6 0116 Rhodia (RHA.PA) Brazil N2O 14,044,796
7 0193 Juhua Group Corp. (600160.SS) China HFC 13,173,993
8 0115 SRF Ltd. (SRFL.BO) India HFC 12,557,782
9 0003 Foosung Group (093370.KS) S.Korea HFC 7,735,164
10 1238 PetroChina (0857.HK) China N2O 7,102,124

TOTAL 150,703,591
(Reporting by Michael Szabo; Editing by Gerard Wynn)