(MENAFN- Trend News Agency) BAKU, Azerbaijan, April 15. Azerbaijan istaking preliminary steps to create a hydrogen strategy, thecountry's Deputy Minister of Energy Elnur Soltanov told reporters,Trend reports.
"In 2023, the European Bank for Reconstruction and Development(EBRD) presented an initial study showing that Azerbaijan's greenhydrogen will be competitive in Europe. The initial studies showthat Azerbaijan possesses considerable potential in this field,"Soltanov said.
According to him, hydrogen production worldwide is at an earlystage, and the nuances of demand for green hydrogen are beingclarified.
"Additionally, we will start working with consulting companiesbased on the EBRD's initial report in this direction. A hydrogenstrategy is to be prepared," the deputy minister said.
The preliminary market study report prepared by theinternational consultant was published in August 2023. It showedthat Azerbaijan is more than capable of producing renewablehydrogen to support local decarbonization but can also providecost-competitive renewable fuels to high-demand regions like theEuropean Union.
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