Canada and Germany say the new hydrogen pact will kick\u002Dstart a transatlantic hydrogen supply chain. Read more
Prime Minister Justin Trudeau and German Chancellor Olaf Scholz signed the deal on Tuesday in the port town of Stephenville, N.L., where they attended a hydrogen trade show.Sign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc.
Germany is seeking long-term energy replacements for fossil fuels both to meet its climate commitments and to end its energy dependency on Russia.Article content “Almost all of the projects we are seeing in Atlantic Canada have really come about in the aftermath of the invasion. This is part of a strategy for the Germans — and eventually all of Europe — to say, ‘We are not going to be dependent on Russia again.”’
That would require Canadian projects to be reviewed and issued permits, to be built and producing fuel, and to have feasible shipping options developed within three years.“It is absolutely ambitious, but part of the thing about setting goals is you need to be ambitious to actually force action,” Wilkinson said.
It will also take time for German demand to ramp up, said Wilkinson. That will require infrastructure changes, such as piping upgrades in homes to use hydrogen for heat.
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