Ukraine’s oil and gas group Naftogaz has entered into an agreement with the Canadian energy developer Symbio Infrastructure to purchase liquefied natural gas (LNG) and green liquid hydrogen from Quebec, Canada.
“This agreement is an important milestone on Ukraine’s path of transitioning to diverse supplies of energy from around the globe, which we began at the end of 2014 when we stopped the direct import of Russian natural gas,” said Yuriy Vitrenko, CEO of Naftogaz. “Since then, we’ve fortified our energy independence by being an active player in the European energy market. We believe opportunities for procuring reliable, responsibly produced long-term energy supply from allies like Canada – and from Symbio’s facilities – by 2027 is critical to our energy security, transition and future economic prosperity.”
“Energy from Symbio’s innovative, net-zero, hydropower-driven infrastructure will provide competitive energy to Ukraine and will significantly reduce global GHG emissions by displacing higher emission energy sources used in Europe, such as coal, heavy fuel oil, and higher carbon intensity sources of natural gas and LNG,” added Jim Illich, Founder and Chairman of Symbio Infrastructure.
The parties intend that the LNG and green liquid hydrogen will be delivered to an import terminal in a mutually agreed European transit country. Symbio will supply the world’s lowest carbon LNG to Europe thanks to Canada’s stringent regulatory standards for natural gas production and the innovative use of renewable hydroelectricity to power its facilities.
This MoU advances the stated ambition of the Canadian government, which has publicly confirmed its strong interest in helping Europe address its energy crisis and need for LNG supply diversification by fast-tracking relevant approvals to export natural gas from eastern Canada to Europe through ultra-low emissions LNG export facilities with the capability to export hydrogen in the future.