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S&P Global Platts: Russia and Germany mull hydrogen partnership to fight climate change

S&P Global Platts: Russia and Germany mull hydrogen partnership to fight climate change

Moscow, July 8 - Neftegaz.RU. Russian and German businesses have proposed an expansion of energy ties and the construction of a hydrogen production plant, the German-Russian Chamber of Commerce said July 7.

"Russia and Germany should take advantage of years of their successful partnership in the oil and gas industry to closely cooperate in the development of hydrogen, climate-friendly technologies for the future," the proposal sent to relevant ministries of both countries said.

As a pilot project, the two countries should start by building a hydrogen production plant, Matthias Schepp, the head of the chamber of commerce, said.

Russia and Germany traditionally enjoy a strong strategic partnership in the oil and gas sector, notably building the Nord Stream 2 gas pipeline.

The hydrogen initiative would expand the Russian-German energy partnership announced in February and allow for a reduction in global greenhouse gas emissions in line with the Paris climate deal.

Germany is ready to allocate EUR 2 billion (about $2.26 billion) for such projects involving international partners, including Russia.

"Russia, as the largest country in the world and an energy superpower with colossal water resources, is an ideal partner for such cooperation," the chamber of commerce said.