Canada, Germany sign MOU to implement transatlantic hydrogen corridor
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)
Related articles
Minnesota Uber and Lyft driver pay package beats deadline to win approval in Legislature
ST. PAUL, Minn. (AP) — A plan to boost pay for Uber and Lyft drivers in Minnesota that lawmakers bel2024-05-21Report: Chinese swimmers were allowed to compete at Tokyo Olympics despite positive doping tests
SYDNEY (AP) — An Australian newspaper says 23 Chinese swimmers were cleared to compete at the Tokyo2024-05-21Justin Verlander allows 2 runs over 6 innings in season debut for Astros
WASHINGTON (AP) — Justin Verlander allowed two runs and four hits over six innings in the three-time2024-05-21Teyana Taylor, 33, breaks her silence on those rumours she is romancing her co
Teyana Taylor, 33, has been linked to Leonardo DiCaprio, 49, more than once this year.First he was s2024-05-21- Israel’s defense minister said Monday the military would expand its operations in the southern Gaza2024-05-21
Soar, slide, splash? It’s skiers’ choice as spring’s wacky pond skimming tradition returns
GILFORD, N.H. (AP) — A costumed skier races down a slope, hits a pond and hydroplanes halfway across2024-05-21
atest comment