Canada and Germany Sign Hydrogen Trade Agreement

Canada and Germany have struck a hydrogen trade deal, aiming to reduce reliance on Russian oil

Hydrogen
Hydrogen, illustrative photo / pixabay.com

On Monday, Canada and Germany agreed to develop the trade of clean hydrogen, which will help Canada become a major supplier and producer of this environmentally friendly fuel.

According to the Canadian Ministry of Natural Resources, the cooperation is aimed at replacing Russian oil and gas in Europe, while simultaneously contributing to the fight against climate change.

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Germany has already started working on a hydrogen economy, launching the H2-Global project, which involves purchasing hydrogen for the industry at reduced prices thanks to a subsidy system.

Canada and Germany have signed a memorandum supporting deals between Canadian producers and German hydrogen consumers.

It was previously reported that Lithuania is stepping up measures to control the import of grain from Russia and territories under occupation, responding to Ukraine's concerns about the illegal export of grain.

We also wrote that gold and silver prices are rising, bringing gold to its record level and lifting silver to its highest mark in the last month, which occurred against the backdrop of a weakening US dollar and rising inflation expectations.

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