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Japan and Korea cooperate to invest in hydrogen in the Middle East
A steel tube intended for storing and transporting hydrogen at a technology exhibition in South Korea
Arab and international
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Added 11/11/2023 - 5:20 PM
https://economy-news.net/content.php?id=37442
A steel tube intended for storing and transporting hydrogen at a technology exhibition in South Korea
Arab and international
Economy News - follow-up
Japan and South Korea are seeking to jointly invest in and develop ammonia and hydrogen supply projects, the Nikkei newspaper reported , as the countries look to the next generation of fuels to ensure their transition to clean energy sources .
The report indicated that government-backed financial institutions will help companies from both countries raise the necessary funding to support foreign projects in regions including the Middle East, without indicating the source of the information. It was also stated in the report that the two countries will cooperate to benefit from their ability to negotiate fuel prices .
The two countries are seeking to use ammonia and hydrogen as a tool to reduce carbon emissions from hard-to-mitigate industries including steel and cement. Japanese electric power companies plan to co-burn ammonia and hydrogen with coal and natural gas in electric power plants to obtain electricity supplies, although critics claim that this technology will still be expensive and will not sufficiently reduce emissions .
The report indicated that Japanese Prime Minister Fumio Kishida and South Korean President Yoon Suk-yeol will announce the plan - known as the "Global Value Chain for Hydrogen Ammonia" - on November 17 during their visit to the United States to attend the Asia-Pacific Economic Cooperation Forum .
Views 10
Added 11/11/2023 - 5:20 PM
https://economy-news.net/content.php?id=37442
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