The outlook for hydrogen is now entering a ‘critical phase’, according to a new GlobalData report. With the new US government throwing its full weight behind fossil fuel development and the uptake of hydrogen remaining sluggish in many markets, the omens don’t look particularly favourable.
However the report forecasts green hydrogen – bedevilled by grid, electrolysis, water and finance challenges – will account for 83% of low-carbon hydrogen capacity coming online by 2030. This positive outlook appears at odds with many forecasts foreseeing blue hydrogen will be dominant in the short-to-medium term.
Indeed, GlobalData concedes ‘the demand from the oil and gas industry will remain the dominant driver for hydrogen in the foreseeable future. Additional demand for this commodity is expected to emerge from industries such as metallurgy, power generation, and transportation.’ That points to support for blue with carbon capture.
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