Speaking on the EU-Med 9 summit in Alicante on Friday, Spain’s president introduced the beginning of a brand new pipeline that can ultimately elevate hydrogen from Barcelona to Marseille in a venture that can price round €2.5 billion.
The purpose is to offer hydrogen, which is generated from renewables slightly than fossil fuels, and so assist scale back Europe’s reliance on Russia’s fuel and oil.
But it’ll take years to finish.
“H2MED, which will be operational at the end of this decade, will be able to transport, as the president of the Commission said, 10 percent of hydrogen consumption of the European Union by 2030 – about two million tonnes per year, ” Pedro Sánchez mentioned.
The President of the European Commission, Ursula von der Leyen, mentioned it’ll assist the EU to “build a real European hydrogen backbone”.
Initially designed to quickly delivery fuel from the Iberian Peninsula to the remainder of the EU to cut back dependence on Russian fuel, the H2Med will now most effective be used to move hydrogen, mentioned Antonio Costa, the top minister of Portugal.
The determination to not delivery fossil fuels used to be vital to make sure that Brussels may just claim it a “project of common interest,” he added.
The governments concerned hope to give the venture earlier than December fifteenth to use for European price range that would duvet as much as 50 % of the infrastructure prices.
