In light of the Paris Agreement and national “net-zero” targets, hydrogen is fast emerging as a key vector in the ongoing energy transition. The development of hydrogen over the last decade has been rapid and is only likely to accelerate further, with many countries committing to having major low-carbon hydrogen projects underway by 2030. The most recent – and perhaps most ambitious – of these targets is China’s announcement to become carbon neutral by 2060. As the world’s biggest coal consumer and single most producer of CO2 emissions globally, here lies an enormous opportunity to produce renewable energies of scale.
The term “hydrogen economy” is not new but the role that hydrogen can, and is expected to play, in the economies of many jurisdictions demonstrates the revitalised ambitions of this subsector. What are still an emerging suite of technologies and an immature web of policy and regulatory frameworks in some jurisdictions, are developing quickly into a supportive system ready to welcome private sector investment in other countries. What is clear is that the promise of hydrogen developments and uses is rapidly evolving as governments and market players are waking up to its benefits and potential.
The demand for hydrogen has grown more than threefold since 1975 and continues to rise. Whilst this is almost entirely supplied from fossil fuels at present (“grey” hydrogen) more and more countries are researching and developing methods of producing low-carbon (“blue”) and renewable (“green”) hydrogen. Hydrogen promises to accelerate transformative changes across many sectors, most notably energy and transport.
CMS has compiled a guide that demonstrates hydrogen will be a key component across the globe in helping to decarbonise a range of sectors and achieve net-zero targets. However, while the demand for hydrogen and its uses is promising, the path for success is not always clear. This guide draws together the insight of some of the most experienced global energy experts to provide a timely and insightful perspective on how hydrogen projects may proceed, and the sector develop, across the globe.
The Promise of Hydrogen sets out the ease (or otherwise) of developing hydrogen projects across 27 jurisdictions by:
- highlighting the status of hydrogen developments in each country;
- considering the market prospects and opportunities that are key for clients seeking to enter or expand in this sector;
- outlining what challenges need to be overcome to reach national and international goals; and
- examining how specific national and international legislation and regulations from each jurisdiction facilitates this growing sector.
Access and download the guide here.
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