According to a statement, Ukraine’s NJSC Naftogaz and Germany’s RWE Supply & Trading have signed a memorandum of agreement on hydrogen.
According to the statement, both firms have agreed to “explore mutually advantageous partnership options along the complete value chain of green hydrogen and its derivatives, such as ammonia generated in Ukraine.”
This covers the production and storage of green hydrogen and ammonia in Ukraine, as well as their export to Germany. In addition, Naftogaz and RWE plan to jointly investigate economic potential for the sale of Ukrainian green hydrogen in European markets, with an emphasis on RWE’s core markets.
The declaration comes after the United States and Germany reached an agreement in July to finish the Nord Stream 2 pipeline. The two countries also agreed to encourage at least $1 billion in investments in a so-called Green Fund to aid Ukraine’s transition to cleaner energy sources.
After discussions with German Chancellor Angela Merkel on Friday, Russian President Vladimir Putin increased the stakes in energy tensions between Russia and Europe by laying out conditions for throwing an economic lifeline to Ukraine.