Hydrocarbon-rich countries; in position to become pioneers in clean hydrogen due to favorable positioning and extensive domain knowledge.
An article from EnergyNews highlights the following:
- Hydrogen has the potential to reduce global emissions by more than 20% by 2050.
- Hydrocarbon-rich countries are well-positioned to become pioneers in clean hydrogen due to their favorable positioning and extensive domain knowledge.
- To take advantage of this opportunity, all concerned parties must work together to create clean-hydrogen value chains, often spanning many regions.
- Stimulating local demand is crucial to creating the foundations of a hydrogen ecosystem.
How will HRCs play a role in scaling up clean hydrogen in order to position themselves among the top players in ?
To scale up clean hydrogen, HRCs need to focus on both blue and green hydrogen production. Blue hydrogen will play a key role in the short to medium term, while green hydrogen costs are expected to decline by approximately 50% by 2030 due to falling electrolyser costs.
HRCs can play several key roles in the clean hydrogen value chain for this:
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View full playlist- Hydrogen Equipment Manufacturing: Creating a leading hydrogen equipment manufacturer can ensure access to vital electrolyzer or carbon capture equipment in case of possible supply chain limitations.
- Hydrogen Production: Chemical firms, especially those heavily involved in industrial gases, possess the necessary capabilities and assets to currently generate clean hydrogen.
- Carbon Capture, Utilization, and Storage (CCUS): CCUS is critical for blue hydrogen production and offers opportunities to decarbonize operations across companies’ portfolios.
- Hydrogen Transportation: Repurposing current gas pipeline infrastructure or building new hydrogen networks can enhance transportation, while collaborations with shipbuilders can aid in the creation of hydrogen carriers.
- Clean-Hydrogen Downstream Production: HRCs with developed downstream industry or access to cheap hydrogen can become suppliers of clean end products, such as green ammonia.
- Integrated Project Developers: NOCs can leverage their strong cross-value-chain positions to derisk project and downstream industries, as well as their G2G relations to help secure demand.
Interestingly, we have some other posts related to this content:
- “Hydrocarbon-Rich Nations Leading Clean Hydrogen Revolution” : McKinsey & Company outlines how hydrocarbon-rich countries can leverage their resources and renewable energy for a sustainable hydrogen supply, emphasizing the importance of domestic demand and strategic location.
- “Hydrocarbon Nations Lead 2030 Clean Hydrogen Revolution for Global Warming Combat!” : McKinsey & Company highlights the need for scaling supply, stimulating demand, and enhancing cooperation across countries to fulfill hydrogen’s promise in reducing emissions globally.
