Energoatom and Naftogaz Ukrainy have signed a memorandum of cooperation in the field of hydrogen technologies.

"Energoatom and Naftogaz Ukrainy have agreed to jointly implement the principles of sustainable development and project activities in order to ensure Ukraine's transition to a climate-neutral circular hydrogen economy by 2050," Energoatom said in a press release.

"We represent powerful companies and want to combine our potential for further development of the industry and implementation of new promising projects using hydrogen technologies," Petro Kotin, the acting president of Energoatom, said, when signing the memorandum.

According to him, nuclear power plants are ideal for solving the problem of producing hydrogen with environmentally friendly electricity, since nuclear generation has advantages over other generations due to environmental friendliness and high concentration of the capacity of the resource produced.

"Therefore, it is nuclear power that should become the main source of pure hydrogen," he stressed.

Kotin also noted that it is beneficial for Energoatom to use the underutilized capacities for production of hydrogen, and at the same time, the experience of Naftogaz in terms of its transportation and use is important.

Naftogaz CEO Andriy Kobolev, in turn, noted the rapid growth of interest in hydrogen throughout the world and the rapid development of the international market for this resource.