Naftogaz and Energoatom will jointly develop hydrogen energy in Ukraine

NJSC Naftogaz of Ukraine and NNEGC Energoatom have reached an agreement on joint work on the implementation of the Hydrogen Strategy for Climate Neutral Europe. The corresponding Memorandum was signed by the state energy companies today, September 24, the press service reports.

The priority areas of cooperation between the companies will be the production of hydrogen – through the use of existing capacities in Ukraine and the creation of new ones, as well as storage of hydrogen.

The Memorandum establishes a framework for strategic cooperation and partnership between energy companies on issues of common interest. These are the development and modernization of the energy sector of Ukraine, integrated with the European market; decarbonization of the energy system; unlocking the potential of Ukraine's hydrogen energy; improving energy efficiency and ensuring the development of markets, trade and cooperation in the field of hydrogen energy.

The parties will introduce the principles of sustainable development in Ukraine and implement measures for the transition to a climate-neutral circular hydrogen economy by 2050.

“We are seeing a rapid increase in interest in hydrogen around the world and a rapid development of the international hydrogen market. Ukrainian hydrogen production can reach 40 GW in the foreseeable future. Using the existing opportunities and creating new green capacities for the production of hydrogen, as well as using existing and building new storage facilities with foreign partners, we can achieve these goals, "said Andriy Kobolyev, head of the board of NJSC Naftogaz of Ukraine.

According to him, Ukraine now has a very wide window of opportunities. After all, it has three advantages. Firstly, it is a geographic location favorable for the supply of hydrogen to neighboring countries and Germany. Secondly, it is the availability of existing facilities. Thirdly, it is the need to reduce CO2 and other pollutant emissions and the possibility of introducing taxation of carbon emissions in connection with the introduction of a new system in the EU.

Tags: gas, Naftogaz, contracts, Kobolyev, renewable energy, NNEGC "Energoatom", legislation, electricity, EU, Top management, energy market, UGSF, GTS, electricity market, foreign affairs, taxes, Gas market, negotiations, investments, agreement, modernization, hydrogen, hydrogen technologies, ecology, decarbonisation, infrastructure, energy sector, innovations, technologies, economy, market, power grid, supplier, consumers

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