Japan and South Korea are working to establish a joint supply network for carbon-neutral fuels such as hydrogen and ammonia.
The framework for the network will be announced by Japanese Prime Minister Fumio Kishida and South Korean President Yoon Suk Yeol on Nov. 17 during the Asia-Pacific Economic Cooperation (APEC) meeting in the United States.
Both countries, heavily reliant on energy imports, aim to collaborate on negotiating prices and volumes of carbon-neutral fuels, with state-backed financial institutions also expected to provide support to companies investing in hydrogen and ammonia projects outside Japan and South Korea.
In July, Kishida visited the Middle East to promote cooperation in green and renewable energy, including hydrogen and ammonia supplies, which Japan intends to incorporate more prominently into its energy mix in order to reduce fossil fuel consumption.
The joint supply network represents a significant step towards achieving carbon neutrality in both Japan and South Korea.
By working together, the two countries can leverage their collective expertise and resources to secure a stable supply of carbon-neutral fuels, paving the way for a more sustainable future.