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EU, Azerbaijan to discuss prospects for trade of renewable hydrogen

18 July 2022 18:10 (UTC+04:00)
EU, Azerbaijan to discuss prospects for trade of renewable hydrogen

By Trend

EU and Azerbaijan will discuss prospects for the development of generation capacity, transport and trade of renewable hydrogen and other renewable gases, Trend reports citing the text of the new Memorandum of Understanding on a Strategic Partnership in the Field of Energy signed today between the EU and Azerbaijan.

The Sides concur on the importance of renewable hydrogen and other renewable gases as a sustainable solution to reduce greenhouse gas emissions in hard-to-decarbonise industrial processes, economic sectors and applications such as power generation, and of creating the conditions for a pick-up in investment into capacity and usage of renewable hydrogen and other renewable gases underpinned by competitive domestic and international markets. The Sides concur on continued cooperation on: 1) discussing prospects for the development of generation capacity, transport and trade of renewable hydrogen and other renewable gases; 2) using renewable hydrogen and its derivatives in a large number of applications such as industrial processes and energy storage; and 3) identifying and implementing appropriate means to ensure that bilateral trade and investment is not distorted.

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