Spain, France and Portugal agreed Friday to build by 2030 a major undersea pipeline to transport hydrogen from the Iberian Peninsula to France and eventually the rest of Europe.
The pipeline is aimed at making the European Union’s energy supply more independent, a goal expedited by the Russian invasion of Ukraine last February that precipitated an energy crisis.
Spanish Prime Minister Pedro Sánchez said the pipeline, dubbed H2Med, will be able to convey some 2 million metric tons of hydrogen to France annually — 10% of the EU´s estimated hydrogen needs. The project is expected to cost 2.5 billion euros ($2.6 billion).
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