German firms sign deals in UAE as Berlin seeks alternative energy supplies

German firms sign deals in UAE as Berlin seeks alternative energy supplies


Electricity transmission pylons beside the gas-fired power plant, operated by Uniper SE, in Irsching, Germany, on Wednesday, July 7, 2021.

Michaela Handrek-Rehle | Bloomberg | Getty Images

German companies have signed agreements with firms in the United Arab Emirates (UAE) to build up a hydrogen supply chain, Germany’s economy ministry said on Monday, as Berlin looks to cut carbon emissions and reduce its reliance on Russian energy.

The deals were signed during a visit by German Economy Minister Robert Habeck to Gulf states to discuss long-term energy supplies. Berlin is investing in cleaner energy and aiming to cut its reliance on Russian energy as part of Western efforts to put pressure on Moscow over its invasion of Ukraine.

Germany’s Hydrogenious and Uniper, along with Abu Dhabi National Oil Company (ADNOC) and Japan’s JERA, will undertake a joint demonstration project for hydrogen transport, the ministry said in a statement.

The agreement aims to build a supply chain of hydrogen produced by renewable energy from the UAE to Wilhelmshaven in Germany, based on Liquid Organic Hydrogen Carriers (LOHC) technology.

ADNOC also signed contracts with German copper manufacturer Aurubis and energy firms RWE, Steag and GEWEC to ship so-called blue ammonia —a low carbon method of producing the compound — to Germany.

Hamburger Hafen & Logistik AG (HHLA) and ADNOC will cooperate to transport the blue ammonia.

The CEO of Thyssenkrupp, which hopes to list its hydrogen unit Nucera on the stock market this year, accompanied Habeck on the trip.

Additionally, German research organization the Fraunhofer Society and the Emirati ministry of energy and infrastructure agreed to deepen the exchange of expertise in sustainable energy and applied hydrogen technology.



Source

Asian pharma stocks fall after Trump slaps 100% levies on branded drugs
World

Asian pharma stocks fall after Trump slaps 100% levies on branded drugs

Cityscape and Tokyo Tower at sunset, Tokyo, Japan. © Marco Bottigelli | Moment | Getty Images Shares of Asian pharmaceutical companies fell Friday after U.S. President Donald Trump announced fresh tariffs on furniture, heavy trucks and pharmaceutical products. Starting from Oct. 1, “any branded or patented Pharmaceutical Product” faces 100% duties, except for companies that […]

Read More
U.S. to impose 100% tariff on branded, patented drugs unless firms build plants locally, Trump says
World

U.S. to impose 100% tariff on branded, patented drugs unless firms build plants locally, Trump says

Shelf of pharmaceutical products. D3sign | Moment | Getty Images President Donald Trump announced Thursday that the U.S. will impose a 100% tariff on “any branded or patented Pharmaceutical Product” entering the country from Oct. 1. The measure will not apply to companies building drug manufacturing plants in the U.S., Trump added. He said that […]

Read More
Oil giant BP quietly steps out of the takeover spotlight
World

Oil giant BP quietly steps out of the takeover spotlight

British oil and gasoline company BP (British Petroleum) signage is being pictured in Warsaw, Poland, on July 29, 2024. Nurphoto | Nurphoto | Getty Images Five months ago, British energy major BP was firmly in the spotlight as a prime takeover candidate. Now, not so much. Shares of the London-listed oil giant have climbed more […]

Read More