NJSC Naftogaz of Ukraine and German energy trading company RWE Supply & Trading GmbH have signed a memorandum of understanding to explore mutually beneficial cooperation opportunities along the full value chain of green hydrogen and its derivatives like ammonia produced in Ukraine.
The parties agreed on the development of green hydrogen and ammonia production and storage in Ukraine and its import to Germany. Furthermore, the companies plan to jointly explore commercial opportunities for the sale of Ukrainian green hydrogen in European markets, with a focus on RWE’s core markets. The announcement followed after the U.S. and Germany reached a deal approving the completion of the Nord Stream 2 pipeline. The two countries also agreed on promoting investments of at least $1 billion in a so-called Green Fund to help Ukraine’s transition to clean energy.
The working groups will involve the representatives of Naftogaz and RWE and will begin the cooperation within the next month.
Earlier this August, The Gas Transmission Operator of Ukraine (GTSOU) has signed an agreement with the European Bank for Reconstruction and Development (EBRD) to collaborate on the development of green hydrogen production, storage, and distribution infrastructure across the country.
The partnership is expected to help enable the multi-scale production and use of green hydrogen in the country ensuring a secure energy supply as Ukraine transitions to a renewable energy-based economy.