Last week, Dr Tan See Leng, Singapore's Second Minister for Trade and Industry, and I signed a memorandum of understanding (MOU) on low-carbon hydrogen.
This is the first agreement on this clean energy fuel that the Ministry of Energy of Chile has signed, which we consider an unprecedented step forward, and will allow us to enhance the development of green hydrogen in Chile and take it to the world.
The objective of this MOU is to facilitate collaboration on bilateral actions and initiatives to advance the use of hydrogen by sharing information, knowledge, best practices and experiences, technical discussions and cooperation on projects of mutual interest and benefit.
Through this agreement, we will study the technical and commercial feasibility of supply routes from Chile and the Latin American region to Singapore's markets, and further expand demand in Asian markets.
Chile has an enormous comparative advantage in green hydrogen production, which we outlined in our national strategy: We want to produce the cheapest green hydrogen in the world by 2030 and be among the top three exporters by 2040. This agreement will play a vital role in helping to make this a reality.
While the challenges that face Chile and Singapore are distinct, our common interest aligns concretely on green hydrogen as a crucial means for achieving our individual climate commitments.
By working collaboratively, we can utilise the strengths of both nations to enable new pathways to market, maximise investment and harness technological innovation to deliver clean growth and job opportunities while decarbonising our economies.
I wish to extend my sincere thanks to Singapore for its willingness to collaborate with Chile in the development of this new, clean industry, and look forward to the work that this MOU will help facilitate in the future.
Juan Carlos Jobet
Minister of Mining and Energy of Chile