The European Bank for Reconstruction and Development (EBRD) and Ukraine’s Gas Transmission System Operator (GTSOU) have teamed up to encourage hydrogen use and development.
The parties have inked a first-of-its-kind agreement to formalize cooperation on low-carbon hydrogen and create hydrogen supply chains.
A developing renewable energy industry characterizes the EBRD regions, which is expected to continue providing value to domestic economies and contribute to the green transition.
Recent renewable energy electricity prices have gone below $30/MWh in numerous nations, making green hydrogen generation competitive with traditional fossil fuels.
The Bank has just initiated a research on the possibilities for developing various elements of the hydrogen supply chain in many of the economies in which it invests, including Ukraine.
Harry Boyd-Carpenter, Managing Director of the Green Economy and Climate Action at EBRD, said, “I am very pleased that the EBRD and GTSOU are cooperating to support each other’s activities regarding hydrogen.
“Ukraine relies heavily on fossil fuels across all sectors of its economy and hydrogen can represent a good alternative for decarbonisation and reduce reliance on fossil fuels.
“Supporting the green transition of our economies is a key priority for the EBRD.”
Sergiy Makogon, CEO of GTSOU, said, “Hydrogen is one of the most promising energy sources, which will contribute significantly to energy decarbonisation and achieving sustainable development goals.
“The challenge therefore is to develop technology to scale up hydrogen use, to create the necessary conditions and infrastructure for its production, transportation and consumption. All this requires time, effort and cooperation by all stakeholders.
“We recognise the role of natural gas as one of the key energy sources and transition fuel on the path to carbon-free economy, which will remain significant for this transition period.
“As the operator of the gas transmission system, our task is now to prepare our infrastructure for the decarbonised energy markets of the future.”