Saudi Arabia requests EU approval in long-term deals in green hydrogen

(MENAFN) Saudi Arabia requests the EU to approve long-term deals in green hydrogen financing chances, as said by the European Council leader.

While giving his speech on Friday, Charles Michel stated that the nation proposed to have the EU finance in its plans to grow green hydrogen as the alliance pursues to challenge the energy crisis.

He also stated that the UAE has offered investment in its renewable ventures.

Michel stated that “What they want to know is if we are ready to accept long-term contracts.”

“It’s good proposals, but more will be needed,” Michel informed journalists, pointing to the EU’s policies to bring down energy costs for the bloc’s residents and businesses.

“On prices, there is a proposal on the table... it is good but is it enough? I don’t think so, I think it’s important to accelerate in terms of the electricity market,” he stated, while underlining the necessity to revise pricing method.


Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.