Zürcher Nachrichten - Germany, Canada partner on transatlantic hydrogen trade

EUR -
AED 4.087691
AFN 77.216219
ALL 99.146863
AMD 431.530556
ANG 2.008679
AOA 1031.493152
ARS 1071.444832
AUD 1.636718
AWG 2.00463
AZN 1.833968
BAM 1.951391
BBD 2.250335
BDT 133.190246
BGN 1.959446
BHD 0.419383
BIF 3230.238279
BMD 1.11291
BND 1.439161
BOB 7.701667
BRL 6.030747
BSD 1.114592
BTN 93.214008
BWP 14.663221
BYN 3.647491
BYR 21813.042196
BZD 2.246534
CAD 1.51141
CDF 3194.052731
CHF 0.943726
CLF 0.037557
CLP 1036.308283
CNY 7.866943
CNH 7.873957
COP 4649.605752
CRC 577.330644
CUC 1.11291
CUP 29.492123
CVE 110.016412
CZK 25.100356
DJF 198.449303
DKK 7.459502
DOP 66.909416
DZD 147.515328
EGP 54.01173
ERN 16.693655
ETB 128.268622
FJD 2.449794
FKP 0.847547
GBP 0.839886
GEL 2.985379
GGP 0.847547
GHS 17.554492
GIP 0.847547
GMD 76.791162
GNF 9630.326265
GTQ 8.61561
GYD 233.107099
HKD 8.674791
HNL 27.647777
HRK 7.566689
HTG 146.879437
HUF 394.157231
IDR 16915.513413
ILS 4.200674
IMP 0.847547
INR 93.082762
IQD 1460.014134
IRR 46859.088964
ISK 152.513253
JEP 0.847547
JMD 175.104342
JOD 0.788716
JPY 159.072742
KES 143.776286
KGS 93.790539
KHR 4523.940499
KMF 492.46545
KPW 1001.618654
KRW 1481.155606
KWD 0.339471
KYD 0.928697
KZT 533.744026
LAK 24610.612066
LBP 99807.176845
LKR 339.266457
LRD 222.881353
LSL 19.418996
LTL 3.286135
LVL 0.673189
LYD 5.309004
MAD 10.808577
MDL 19.446874
MGA 5021.6758
MKD 61.47802
MMK 3614.689295
MNT 3781.669204
MOP 8.946281
MRU 44.118708
MUR 51.049094
MVR 17.083347
MWK 1932.41655
MXN 21.523736
MYR 4.68484
MZN 71.113011
NAD 19.418996
NGN 1825.529362
NIO 41.012723
NOK 11.696776
NPR 149.160304
NZD 1.785843
OMR 0.428437
PAB 1.114592
PEN 4.184283
PGK 4.425001
PHP 61.979083
PKR 309.981864
PLN 4.27323
PYG 8700.419088
QAR 4.063319
RON 4.974488
RSD 117.080389
RUB 103.309148
RWF 1500.840195
SAR 4.176335
SBD 9.260263
SCR 15.165156
SDG 669.441157
SEK 11.332482
SGD 1.439622
SHP 0.847547
SLE 25.426999
SLL 23337.167151
SOS 636.966462
SRD 33.223683
STD 23034.996587
SVC 9.751965
SYP 2796.220485
SZL 19.401981
THB 36.94413
TJS 11.846103
TMT 3.906315
TND 3.375772
TOP 2.615116
TRY 37.881682
TTD 7.575033
TWD 35.593074
TZS 3032.057276
UAH 46.18624
UGX 4138.685594
USD 1.11291
UYU 45.786543
UZS 14199.044041
VEF 4031576.086267
VES 40.879734
VND 27355.33557
VUV 132.126949
WST 3.113325
XAF 654.50164
XAG 0.036076
XAU 0.000431
XCD 3.007696
XDR 0.826041
XOF 654.47817
XPF 119.331742
YER 278.617301
ZAR 19.454062
ZMK 10017.526769
ZMW 29.005331
ZWL 358.356668
  • RBGPF

    3.5000

    60.5

    +5.79%

  • RYCEF

    0.3800

    6.93

    +5.48%

  • CMSC

    -0.0350

    25.02

    -0.14%

  • AZN

    0.6850

    79.265

    +0.86%

  • GSK

    -0.4400

    41.99

    -1.05%

  • NGG

    -1.2200

    68.83

    -1.77%

  • RIO

    2.3050

    65.215

    +3.53%

  • BTI

    -0.2550

    37.625

    -0.68%

  • SCS

    -0.9350

    13.175

    -7.1%

  • CMSD

    0.0250

    25.005

    +0.1%

  • BCC

    5.6500

    142.71

    +3.96%

  • RELX

    0.7100

    48.08

    +1.48%

  • BCE

    -0.1950

    35.415

    -0.55%

  • VOD

    -0.1650

    10.065

    -1.64%

  • JRI

    -0.0100

    13.43

    -0.07%

  • BP

    0.5950

    33.025

    +1.8%

Germany, Canada partner on transatlantic hydrogen trade
Germany, Canada partner on transatlantic hydrogen trade / Photo: Cole Burston - AFP

Germany, Canada partner on transatlantic hydrogen trade

The leaders of Canada and Germany signed a green hydrogen deal on Tuesday, laying a path for a transatlantic supply chain as Europe seeks to lessen its dependence on Russian energy.

Text size:

"It's a vote of confidence for Canada as a leader in clean energy," Prime Minister Justin Trudeau said during a joint press conference with visiting German Chancellor Olaf Scholz.

"We cannot as a world continue to rely on authoritarian countries that will weaponize energy policy, as Russia is, that don't concern themselves with environmental outcomes or labor rights or even human rights," Trudeau added.

Moscow has slashed its energy exports to Europe in response to punishing Western sanctions over Moscow's invasion of Ukraine, forcing countries to scramble for alternatives.

Scholz said there was a need to discuss "short-term constraints and LNG (liquefied natural gas) but in the long run, the real potential lies in green hydrogen from the wind-rich, thinly populated Atlantic provinces."

Canada aims to become a major producer and exporter of hydrogen and other related clean technologies to displace climate-warming fossil fuels, with Germany lined up to become a first customer.

In a joint declaration, Trudeau and Scholz outlined plans to "kickstart the hydrogen economy and to create a transatlantic supply chain for hydrogen."

The plan is to make the first deliveries of Canadian hydrogen to Germany as early as 2025, the statement said.

Canada said it would also export hydrogen to the broader European market -- "contributing to European energy security," as the bloc looks to end its reliance on Russian energy -- as well as to Asia.

The two leaders, with a sizeable German business delegation in tow, toured a site in Stephenville, Newfoundland, where US-based World Energy GH2 Inc. is looking to build a hydrogen production facility powered by a 164-turbine, one-gigawatt wind farm on the Port au Port Peninsula.

The former pulp mill boasts substantial wind resources, access to the power distribution grid and a port that can ship product to Europe.

The project is one of a dozen under consideration by the Newfoundland government since it lifted a moratorium on new wind farms, and in July issued a call for proposals to put turbines on government lands.

With an estimated $10 billion price tag, it would be the largest single investment ever made in Canada's Atlantic region.

X.Blaser--NZN