FX.co ★ Russia to consider turning to green energy

The topic of transition to renewable energy has become extremely popular nowadays. As a rule, such energy giants as Russia, who solely depend on conventional energy sources, show little or no interest in green technologies. However, this time, the Russian authorities have turned their attention to hydrogen as an alternative source of energy. This shift of focus could be connected with the obstacles Russia has faced in its gas supplies to Europe, or it could be a genuine concern about the global and local environment, we’ll never know. Nevertheless, recently Russian and Germany have agreed to closely cooperate in the development of hydrogen climate-friendly technologies. The two countries are now ready to sign a memorandum on conducting joint hydrogen energy research. The hydrogen initiative would expand the Russian-German energy partnership and allow for a reduction in global greenhouse gas emissions. Russian Energy Minister Alexander Novak points out that hydrogen has great potential in the energy sector, and Russia pays special attention to it by actively conducting scientific research in this sphere. He also thinks that hydrocarbons would still represent the lion's share of the world energy balance in 2050 although in Europe the energy balance may look different. “And it will be important to understand what conditions will be needed to ensure production of the appropriate energy resources for the entire world,” Alexander Novak commented.