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the EU was committed to providing the right incentives to help the industry seize opportunities arising from the development of renewable and low carbon hydrogen.
The standardization and regulatory work between the two regions will involve electrolyzers, large-scale liquefied hydrogen tanks and refueling infrastructure for heavy duty vehicles, among others, their joint statement said.
"The Forum discussed industrial cooperation, finance and supporting measures, and research and development, with the participation of Japanese and EU energy industry top executives," the statement added.
The meeting saw several organizations in Japan and the EU sign cooperation agreements and joint undertakings aimed at promoting collaboration in the field of hydrogen.
As a next step, the parties will work to formulate a joint working plan to continue deepening the cooperation based on the recent policy developments in Japan and the EU, which include supporting schemes established by the Hydrogen Society Promotion Act in Japan and the European Hydrogen Bank in the EU, the statement said.
"They will exchange information on the functioning and participation requirements under the two schemes, keeping in mind the importance of building a resilient and sustainable supply chain," they said.
Japan and the EU underscored the importance of working with like-minded partners to build and strengthen transparent, resilient and sustainable supply chains as widely as possible, and agreed to establish a working group on Japan-EU Clean Energy Industrial Policy Coordination.
"We are now attracting more investment in clean hydrogen than the US and China combined," Simson said at the Japan Energy Summit and Exhibition. At the first auction of the EU Hydrogen Bank, 132 bids were received from 17 European nations, she noted.
As much as 6 million mt of hydrogen offtake commitments are under discussion in the EU, she added.
Japan is the EU's closest strategic partner in the Indo-Pacific region and a key ally for the implementation of the EU Strategy for Cooperation in the Indo-Pacific, released in September 2021, the website of EU says.
Platts, a part of S&P Global Commodity Insights assessed Japan hydrogen produced via alkaline electrolysis at $4.90/kg May 31, up 1.7% from a month earlier.
158 RUSSIA Country Report July 2024 www.intellinews.com