Feb. 22 (Bloomberg) -- Gazprom Marketing and Trading Ltd., the global trading arm of the Russian gas export monopoly, plans to trade to as much as 100 million tons of emissions credits by 2011, about 5 percent of the European Union's total yearly grant.

GM&T is preparing to announce an investment of about 10 million pounds ($19.6 million) in as many as five wind farm projects in China to gain certified emissions reduction credits, which can be used for compliance with the European Union's emissions-trading program, the world's biggest.

``We're looking at projects right around the world now,'' said Arthur Tait, GM&T's director of global carbon, in an interview in London today. He said Gazprom was also considering green energy projects in Kenya, Tanzania, and Ivory Coast.

At today's benchmark price on the Nord Pool exchange, in Lysaker, Norway, 100 million credits are worth 1.6 billion euros ($2.4 billion).

To contact the reporter on this story: Ben Farey in London at bfarey@bloomberg.net.

Last Updated: February 22, 2008 12:12 EST