Tuesday, 02 January 2024 12:17 GMT

EU Kicks Off First Hydrogen Mechanism To Match Buyers And Suppliers


(MENAFN- Trend News Agency) BAKU, Azerbaijan, November 12. The European Commission launched the first call for interest under its Hydrogen Mechanism, aiming to connect potential suppliers with buyers of hydrogen and its derivatives across the EU to accelerate the bloc's transition to climate neutrality by 2050, Trend reports, citing the Commission.

The mechanism will cover renewable and low-carbon hydrogen, as well as derivatives such as ammonia, methanol, synthetic aviation fuels (eSAF), and eMethane. It is designed to match future demand and supply, enhance market transparency, and support the development of hydrogen infrastructure and financing solutions.

"Today's call marks a new chapter in the EU's support to European industry and its competitive decarbonisation through renewable and low-carbon hydrogen," said EU Energy Commissioner Dan Jørgensen. "By connecting buyers and sellers, this mechanism will help us create a cleaner and competitive future for our energy and our economy".

The submission phase for suppliers will run from November 12, 2025, through January 2, 2026. Anonymized information on supply offers will be published on January 19, followed by an expression of interest phase for buyers.

The initiative forms part of the EU's Hydrogen Bank framework, and will operate until the end of 2029. The Commission said the mechanism will play a key role in supporting industries that are difficult to decarbonize, while stimulating new business opportunities in the emerging hydrogen market.

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Trend News Agency

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