Canada, Germany sign MOU to implement transatlantic hydrogen corridor
Time:2024-05-21 08:14:54 Source:politicsViews(143)
OTTAWA, March 18 (Xinhua) -- Canada and Germany on Monday signed a Memorandum of Understanding (MOU) to implement a transatlantic hydrogen corridor.
According to a news release issued by Natural Resources Canada, this bilateral program will accelerate commercial-scale hydrogen trade between Canada and Germany, and secure early access for clean Canadian hydrogen producers in the German market.
Under this MOU, the Canada-Germany Bilateral Window will be set up to conduct coordinated supply and demand side auctions that will connect Canadian hydrogen exporters with German buyers to facilitate the completion of commercially binding contracts for the sale of clean Canadian hydrogen and its derivatives within the established timelines.
The MOU committed Canada and Germany to finalizing the terms and conditions of the Bilateral Window no later than June 30, 2024 and Hydrogen Purchase Agreements will be secured, the release said.
The two countries set up a hydrogen alliance in August 2022 with the shared objectives of catalyzing investments in hydrogen products, supporting the development of secure hydrogen supply chains and establishing a Canada-Germany supply corridor.
Over 80 low-carbon hydrogen production projects have been announced in Canada to date, representing an economic expression of interest in over 100 billion Canadian dollars (74 billion U.S. dollars) of potential investment, the release said.
(Editor:Fu Bo)
Previous:Student fatally shot, suspect detained at Georgia's Kennesaw State University
Next:Travis Kelce downs whiskey shot on slice of bread at Kelce Jam without Taylor Swift
You may also like
- 'The Apprentice,' about a young Donald Trump, premieres in Cannes
- NPC aims to further enhance the legal system
- Xi visits political advisors, joins discussion at annual session
- Changbai Mountain transforms into a winter paradise
- Jessica Biel CHOPS her long locks into a bob after book signing in Studio City
- China's space
- Poland hit by protests over cheap Ukrainian imports
- U.S. allegation of 'forced labor' in Xinjiang is huge lie: Foreign Ministry
- Shohei Ohtani's first walk