🔴 LIVE: The Secrets of ProPicks AI Success Revealed + November’s List FREEWatch Now

Germany, Italy support new hydrogen-ready pipeline project

Published 08/06/2023, 18:56
Updated 08/06/2023, 19:02
© Reuters. Italian Prime Minister Giorgia Meloni meets with German Chancellor Olaf Scholz, in Rome, Italy June 8, 2023. Chigi Palace/Handout via REUTERS
NG
-

By Rachel More and Francesca Landini

ROME (Reuters) - German Chancellor Olaf Scholz said on Thursday he is pleased that Italy and Germany have agreed to push ahead with work on the construction of a pipeline to transport gas and hydrogen between the two countries.

"Strengthened cooperation on diversifying energy supply is very important for me. Expanding supply networks in Europe will benefit us all and certainly increase energy security," Scholz said during a press conference with Italian Prime Minister Giorgia Meloni.

"For that reason I am pleased that we have agreed to press on with the work on a new natural gas and hydrogen pipeline between Italy and Germany," he added.

Last month, Italy, Germany and Austria signed a letter of support for the development of a hydrogen-ready pipeline between North Africa and Europe, as European countries adapt to the realities of throttled energy exports from Russia.

The 3,300-km (2,050-mile) project is led by four major European transmission system operators: Snam, Trans Austria Gasleitung, Gas Connect Austria and Bayernets in Germany.

Sea Corridor, a joint venture between Snam and Italian energy group Eni operating the gas pipelines that connect North Africa with Italy, is also part of the consortium that will build the infrastructure, dubbed SoutH2 Corridor.

© Reuters. Italian Prime Minister Giorgia Meloni meets with German Chancellor Olaf Scholz, in Rome, Italy June 8, 2023. Chigi Palace/Handout via REUTERS

"On the energy front we agree that it is very important to ensure the diversification of our supply sources and to work on connecting infrastructures, particularly in the Mediterranean," said Meloni, who aims to turn Italy into an energy hub connecting Africa to northern Europe.

The SoutH2 Corridor, which could transport 4 million tonnes per year for green hydrogen according to technical detail designed by the consortium, is one of the three projects under review by the European Union for the non-fossil fuel.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.