Germany will trigger a hydrogen industry boom: Chancellor Scholz

German Chancellor Olaf Scholz said that the country would have the infrastructure necessary to import all the gas it needs by the end of 2023

Germany wants to create a huge boom in the hydrogen industry as part of efforts to diversify its energy sources and reach its climate goals, said German Chancellor Olaf Scholz on Tuesday.

Describing hydrogen as the gas of the future, Scholz promised in a speech at the German Employers' Day that Germany would "trigger a big boom."

He added that the country would have the infrastructure necessary to import all the gas it needs by the end of 2023 and pointed to the construction of liquefied natural gas terminals off the country's coast.

Scholz was in Canada last month to sign a deal to establish hydrogen supply chains, and Germany and Canada have been in discussions about building LNG terminals on the Canadian Atlantic coast within the next five years.

Hydrogen is a zero-carbon fuel best suited for powering large industrial machines, heavy vehicles and for heating.