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jogmec-and-h2global-to-cooperate-on-hydrogen-based-initiatives-and-imports
© H2Global
jogmec-and-h2global-to-cooperate-on-hydrogen-based-initiatives-and-imports
© H2Global

JOGMEC and H2Global to cooperate on hydrogen-based initiatives and imports

The Japan Organisation for Metals and Energy Security (JOGMEC) and H2Global Foundation (H2Global) have agreed to collaborate on hydrogen development.

Under a Memorandum of Understanding (MoU), JOGMEC will cooperate with the H2Global initiative, which aims to accelerate the hydrogen market ramp-up through an auction-based instrument.

The key Japanese governmental body has been supporting hydrogen production and utilisation since the revision of the JOGMEC Act in 2022.

Both Japan and Germany have revised Net Zero pathways and laid out plans for an increase in hydrogen imports under their respective national strategies. The Japanese Government aims to increase the country’s hydrogen supply from the current level of two million tonnes to 12 million tonnes by 2040.

Read more:Japan plans $107bn of hydrogen investments under strategy revision

Despite doubling the domestic hydrogen production target to 10GW, the German Government has predicted 50-70% of its 2030 hydrogen demand will be met via imports.

According to the German strategy, “A domestic supply that meets demand would neither make economic sense not serve the transformation processes resulting from the energy transition as a whole.”

Read more:Germany doubles domestic hydrogen production target to 10GW while planning import strategy

Acting as a funding platform for hydrogen projects within Europe, H2Global will ensure green hydrogen or derivatives are purchased abroad with long-term contracts and resold at competitive prices to the highest EU-based bidder.

Through the platform, it will show that green hydrogen and its derivatives can be produced and exported both competitively and sustainably in partner countries, for example Japan and Germany.

Read more:BMWK establishes ‘H2Global Foundation’ to provide new hydrogen funding platform

The MoU between JOGMEC and H2Global is expected to represent a partnership where both organisations can “contribute to the global transition” and create a “clean hydrogen society.”

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