In a significant step towards advancing hydrogen technology and business collaboration, the Japanese Minister of Economy, Trade and Industry, Ken Saito, and European Commissioner for Energy, Kadri Simson, convened a High-Level Hydrogen Business Forum on June 3, 2024. This forum sought to strengthen the partnership established under the EU-Japan Memorandum of Cooperation on Hydrogen, signed in December 2022, and the directives of the Japan-EU Summit Meeting held in July 2023.
The Memorandum of Cooperation (MoC) reflects the Green Alliance agreed upon by Japan and the EU in May 2021, which aims to promote cooperation in achieving carbon neutrality. Recognizing the vulnerabilities posed by economic dependencies on specific supply sources, both parties underscored the importance of a level playing field through coordinated efforts, as discussed during the 5th Japan-EU High-Level Economic Dialogue on May 2, 2024.
Key Agreements and Discussions:
Economic Dependencies and Market Distortions:
Minister Saito and Commissioner Simson expressed concerns about economic dependence on strategic goods and the market-distorting practices that accompany it. They highlighted the necessity of addressing these vulnerabilities and promoting fair competition through coordinated policies.
Cooperation in Clean Energy Sectors:
The forum emphasized the significance of cooperation in clean energy sectors, particularly in wind, solar, and hydrogen. Both parties committed to prioritizing transparency, diversity, safety, sustainability, and reliability in their assessments.
Strengthening Supply Chains:
Both leaders emphasized the importance of establishing resilient and sustainable supply chains with like-minded partners. They announced the formation of a working group on Japan-EU Clean Energy Industrial Policy Coordination to further these efforts.
Investment and Deployment of Hydrogen Technologies:
The forum underscored their shared interest in supporting the investment and deployment of renewable and low-carbon hydrogen. Discussions encompassed industrial cooperation, finance, supportive measures, and research and development. The outcomes will be reported to Japanese and EU leaders before the next Japan-EU Summit.
Business Cooperation and Agreements:
The forum facilitated business presentations and matching opportunities, resulting in several cooperation agreements aimed at promoting collaboration in the hydrogen sector:
– Japan Hydrogen Association (JH2A) and Hydrogen Europe
– New Energy and Industrial Technology Development Organization (NEDO) and Clean Hydrogen Joint Undertaking (CHJU)
– Japan Organization for Metals and Energy Security (JOGMEC) and H2GLOBAL
– Kawasaki Heavy Industry and Daimler
Additionally, the High Pressure Gas Safety Institute of Japan (KHK) and Joint Research Center (JRC) expressed their intention to deepen cooperation in hydrogen safety.
Future Steps:
Both parties committed to formulating a joint working plan to continue enhancing cooperation in the hydrogen field. This includes exchanging information on the Hydrogen Society Promotion Act in Japan and the European Hydrogen Bank, as well as standardization efforts and regulatory requirements for international hydrogen trade.
Minister Saito and Commissioner Simson concluded the forum by reaffirming their commitment to building a resilient and sustainable hydrogen economy, aiming to make significant strides towards carbon neutrality and energy security.