Germany invests € 2 billion in the international hydrogen fuel market
Germany will open a bureau for the production and supply of hydrogen in Russia and Saudi Arabia. Earlier, the German government announced that Russia could work with Germany to produce "green" hydrogen, which would be supplied via Nord Stream 2.
“Together with renewable energy sources, hydrogen offers a way out of the global climate catastrophe that fossil fuels have brought us into. Accordingly, a huge future market is emerging here. If oil was black gold, hydrogen is the invisible gold of the future, ”he said at the Berlin Energy Transition Dialogue.
According to him, if earlier oil fields led to interstate conflicts, then hydrogen fuel can be produced in any country.
Germany will invest 2 billion euros in the coming years to stimulate the international hydrogen market.
“We must support today's fossil fuel exporters if we want to avoid political turmoil. In this regard, the Foreign Ministry will expand its dialogue with producers of traditional energy resources, such as Russia and Saudi Arabia, so that they can timely adjust their business models. With this in mind, we are now working on creating a hydrogen bureau, including in Moscow and Riyadh, ”said Heiko Maas.