Japan, EU agree to work on creating hydrogen demand and supply
03/06/2024 07:58
By Katya Golubkova
TOKYO, June 3 (Reuters) - Japan and the European Union
on Monday agreed to work together on policies related to
creating demand and supply for clean hydrogen as well as to
cooperate in advancing technologies to develop the new fuel, a
joint statement said.
Japan sees hydrogen as a new and cleaner source to gradually
substitute liquefied natural gas (LNG), part of the country's
path to carbon neutrality by 2050, and for Europe, hydrogen is
one of the options to phase out usage of Russian fossil fuels.
"Hydrogen will be very soon an internationally traded
commodity, and close EU-Japan cooperation will be essential for
promoting renewable and low-carbon hydrogen globally, and
ensuring that standards and regulations converge," Kadri Simson,
European Commissioner for Energy, told reporters.
On Monday, Simson met Ken Saito, Japan's minister of
economy, trade and industry, and the two also chaired a Japan-EU
hydrogen business forum attended by executives including of
JERA, Tokyo Gas 9531.T , Mitsui 8031.T , Iwatani 8088.T .
The EU aims to produce 10 million metric tons and import 10
million tons of renewable hydrogen by 2030 as the bloc moves to
cut carbon emissions but the switch needs investments in
infrastructure to create demand for the new fuel.
"Hydrogen is an important priority for European energy
policy, and hydrogen will help us to get rid of the remaining
Russian fossil fuels. But it also, in the long term, helps us to
decarbonise our industry," Simson said on Monday.
Last week Germany, a key buyer of Russian gas before the
Kremlin sent troops to Ukraine in 2022, approved a bill to
fast-track the construction of hydrogen infrastructure, import
and production facilities, also as it aims to cut emissions.
Japan plans to spend 3 trillion yen ($19 billion) over the
next 15 years to subsidise production of clean hydrogen,
according to Nikkei.
Japanese trading house Itochu Corp 8001.T on Monday said
it is conducting a feasibility study of building hydrogen and
ammonia supply chain in Kitakyushu in southern Japan, one of the
future offshore wind hubs in the country.
($1 = 157.2800 yen)
(Reporting by Katya Golubkova; Editing by Michael Perry)
((jekaterina.golubkova@thomsonreuters.com;))