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Finance

Czech Republic signs MoU with Canada’s New Brunswick in the field of energy cooperation

The provincial government of New Brunswick, Canada, signed a Memorandum of Understanding (MoU) with the Ministry of Industry and Trade of the Czech Republic focused on bilateral cooperation in support of energy innovation and other economic activities.

“New Brunswick is well-positioned to power the world with clean energy as we build a world-class energy cluster,” said Premier Blaine Higgs. “I am pleased that we will continue to nurture our relationship with the Czech Republic to support our province’s energy-related files and other economic priorities.”

The Memorandum will explore cooperation in the field of renewables; gas industry, including especially the production, transportation and storage of liquified natural gas (LNG) if development occurs in New Brunswick; carbon neutral and greenhouse gas mitigation technology; deployment and implementation of small modular reactor (SMR) technology being developed in New Brunswick; hydrogen, including production, technology, and related products and services.

“As Europe continues to experience energy uncertainty, New Brunswick can play an important role in helping countries like the Czech Republic create their own energy future,” said Natural Resources and Energy Development Minister, Mike Holland. “Together, we will continue to look at the ongoing global transformation of energy development and how New Brunswick can continue to lead the way for clean energy options, such as SMRs.”

“Canada is one of the key partners of the Czech Republic and the European Union,” added Jozef Síkela, Czech minister of Industry and Trade. “We do understand the opportunities to strengthen the ties with New Brunswick. The Memorandum of Understanding reflects our willingness to enhance our cooperation across the board, with a special focus on energy and related technologies. The timing seems to be just right to face together global energy challenges.”

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