Interfax-Ukraine

News about recent political developments in Ukraine, key Ukrainian economic news and major current events in the CIS and the rest of the world.

https://en.interfax.com.ua/

Сost of hydrogen project of Naftogaz, RWE for production of green ammonia estimated at EUR 500 mln – Vitrenko.

The cost of a pilot hydrogen project of Naftogaz Ukrainy and RWE Supply & Trading (Germany) for the production of green ammonia is tentatively estimated at EUR 500 million, head of NJSC Naftogaz Ukrainy Yuriy Vitrenko has said.

"We now estimate the cost of this project at approximately EUR 500 million. The economic effect of this project will significantly exceed the investment in it, but a lot depends on regulation, both in the European market and in Germany, because this entire green hydrogen industry is new, and even now there is no final decision by the German government how it will develop hydrogen energy in Germany, and the final profitability of the project depends on this," he said in an interview with DW.

According to him, depending on the options for the implementation of the project, the term of its implementation is from one to three years.

Vitrenko recalled that within the framework of the project with RWE, it is planned to produce green hydrogen from renewable electricity and water, which will be further processed into green ammonia with its subsequent transportation by sea to Germany.

The head of Naftogaz noted that Ukraine has significant opportunities for renewable energy with the subsequent production of green hydrogen. At the same time, due to the high feed-in tariff for electricity producers from solar, wind and hydroelectric power plants, the country is already investing billions of dollars in green energy.

"Much depends on the interest and effective demand for green hydrogen in Europe. We must honestly say that rich countries of Europe should take on a certain responsibility for providing certain subsidies for green hydrogen [...] Thus, these funds are invested in improving the environment and combating the climate change on a global scale," he said.

As reported, Naftogaz Ukrainy and RWE Supply & Trading signed a memorandum of understanding in August 2021, agreeing to analyze the possibilities of mutually beneficial cooperation to create production of green hydrogen and its derivatives, in particular ammonia. In particular, we are talking about the development of projects for production and storage of green hydrogen and ammonia in Ukraine and their export to Germany.

Related news
Ukraine’s car imports grew by 40% - Ukrautoprom

Ukraine’s car imports grew by 40% - Ukrautoprom

In January-September 2021, 471,600 cars were imported to Ukraine, which is 40% more than in the same period last year and is a record high for this period, according to the Ukrainian Motor Vehicle Manufacturers Association (Ukrautoprom).

UkrInform

Indian Man Builds Taj Mahal Replica Home for Wife

Indian Man Builds Taj Mahal Replica Home for Wife

A lovestruck and historically minded Indian husband has emulated the world's most famous display of marital devotion by building a replica of the Taj Mahal for his wife. It cost $200,000 (15 million rupees) to build. The original Taj Mahal, dubbed...

Expert says this is the most important thing we need to know about Omicron.

Expert says this is the most important thing we need to know about Omicron.

Dr. Peter Hotez discusses the Omicron variant and when we'll know if vaccines are effective against it. #CNN #News

‘Freak show caucus’: Acosta responds to Boebert’s remark.

‘Freak show caucus’: Acosta responds to Boebert’s remark.

CNN's Jim Acosta reacts to Rep. Lauren Boebert's (R-CO) recent racist comments and the lack of action from GOP leadership. #CNN #News

1 539

Writer says non-supporters are using Trump’s lie

Writer says non-supporters are using Trump’s lie

David Frum, a former speechwriter for George W. Bush, argues that non-supporters of former President Trump are using his "Russia hoax" lie to their own advantage. #CNN #News

1 201

Retailers hire private security amid crime surge

Retailers hire private security amid crime surge

'The Big Saturday Show' panel weighs in as states like California face smash-and-grab thefts during holiday season #FoxNews Subscribe to Fox News! Watch more Fox News Video: Watch Fox News Channel Live: FOX News Channel (FNC) is a 24-hour all-enco...

Theft On The Rise During Holiday Shopping Deals

Theft On The Rise During Holiday Shopping Deals

As shoppers rush for holiday deals, thieves grab items and run out of stores. The surge coincides with the most robust time of year for businesses.» Subscribe to NBC News: » Watch more NBC video: NBC News Digital is a collection of innovative and ...