The European Energy Exchange (EEX) will establish a trading market for hydrogen as part of an initiative funded by the German government, the Leipzig-based energy trading platform said last week.
EEX has joined the H2Global Foundation and is working to develop a hydrogen index based on price assessments by market participants. The marketplace for green hydrogen and its downstream products such as ammonia will ensure transparency in prices and trading volumes, according to EEX's chief strategy officer Tobias Paulun.
"The development of liquid exchange markets for hydrogen and its downstream products is important so that producers and consumers can meet under reliable conditions. The work of H2Global lays the foundation for this," Paulun added.
The H2Global Foundation was created to support the ramp-up of the green hydrogen market and the import of green hydrogen and Power-to-X (PtX) products to Europe. The foundation is funded by the Federal Ministry for Economic Affairs and Climate Protection (BMWK) with nearly EUR 1 billion (USD 1.1bn).
Other participants in the project include industrial companies such as Siemens Energy Global GmbH, Thyssenkrupp AG (ETR:TKA), Deutsche Bank AG (ETR:DBK), Salzgitter AG (ETR:SZG) and Uniper SE (ETR:UN01).
(EUR 1.0 = USD 1.105)
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