Canadian Prime Minister Justin Trudeau and German Chancellor Olaf Scholz applaud as Natural Resources Minister Jonathan Wilkinson and German vice-chancellor Robert Habeck shake hands after signing an agreement, Tuesday, August 23, 2022 in Stephenville, Newfoundland and Labrador.
The Canadian and German governments are taking the next step to launch Atlantic Canada's hydrogen export industry, announcing a multimillion-dollar commitment Wednesday for projects in Eastern Canada.Canadian Prime Minister Justin Trudeau and German Chancellor Olaf Scholz applaud as Natural Resources Minister Jonathan Wilkinson and Robert Habeck, Germany's vice-chancellor, shake hands after signing a hydrogen agreement in 2022.
Russia, a significant supplier of natural gas to Europe, has been accused of holding back supply in retaliation for crippling sanctions imposed by Germany and other Western allies for its full-scale invasion of Ukraine. It's hoped these and others will play a significant role in fighting climate change. Unlike other sources of hydrogen that use fossil fuels, these projects would use wind turbines to create hydrogen from water.
The $600 million that Canada and Germany are providing would be used to close any gaps between the price producers offer and the price that buyers are willing to pay. In 2022, Canada and Germany agreed to collaborate to help deal with Germany's energy crunch by establishing a "transatlantic Canada-Germany supply corridor."
"Hydrogen must be turned into ammonia to ship, using even more energy. By the end, approximately 80 per cent of the original energy is lost," said Julia Levin, the organization's associate director of national climate, in a statement.
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