According to the International Renewable Energy Agency (Irena), the European gas crisis could accelerate the transition to clean energy and the adoption of green hydrogen as a viable alternative to oil and gas.
“Price fluctuations were a hallmark of the oil and gas system,” Irena’s Secretary Francesco La Camella told the Financial Times. “The move to a new energy system where hydrogen plays an important role will reduce volatility.”
The development of green hydrogen, which is made from water and uses renewable electricity, has become a policy priority for many countries as it prepares to reduce emissions to “net zero” by 2050. ..
Irena’s report, released Saturday, predicts that oil and gas geopolitics, where producing countries have the power to influence prices, will decline as new fuels, including hydrogen, become more dominant. ..
It concludes “new cartography of energy geopolitics” and as production increases around the world, improved “hydrogen diplomacy” will emerge.
Elizabeth Press, director of Irena, said: plan.
La Camera says the green hydrogen market is already growing “a little faster than expected a few months ago”, pointing out recent deals in Germany, Uruguay and Brazil.
Irena estimates that hydrogen can provide 12% of the world’s energy demand by 2050 if we significantly reduce global emissions and limit global warming to 1.5 ° C.
However, La Camella predicted that the market would develop in a “regional rather than global” direction, saying that many countries could produce the gas produced. As a result, profits are unlikely to reach the levels traditionally enjoyed by oil and gas producers, he added.
Large energy consumers such as the United States, China, EU, Japan, India and South Korea have already made hydrogen a major component of their energy programs.
Over the next decade, approximately $ 65 billion will be allocated to hydrogen production, with Germany, France and Japan expected to be the largest investors.
Gas transportation is difficult, but it can be converted to ammonia for long-distance transportation or transported through existing natural gas pipelines. Last year, cargo of hydrogen-derived ammonia was sold to Japan from Saudi Arabia and the United Arab Emirates.
Abu Dhabi-based group with more than 160 member states, Irena will make Australia, Chile, Saudi Arabia, Morocco, and the United States major hydrogen producers due to support policies and the availability of renewable energy. We conducted a survey that it is most suitable for. ..
Fossil fuel producers can also switch to hydrogen production instead of oil and gas. Saudi Arabia, which seeks to diversify from its dependence on oil and gas, said this week it aims to become the cheapest green hydrogen producer in the world.
There are two main methods for producing hydrogen. Green hydrogen is produced using renewable energy and blue hydrogen is produced from natural gas.
To meet climate goals, blue hydrogen must be combined with carbon capture to limit the impact of associated carbon dioxide and methane emissions.
Due to the recent rise in gas prices, the economics of green hydrogen look relatively attractive compared to blue hydrogen, which requires the production of natural gas.
Irena’s report predicts that green hydrogen will reach prices comparable to blue hydrogen by 2030 in many countries, but other studies suggest nearly 2040. Currently, the cost of the electrolytic cell, which is the machine required to produce green hydrogen, makes it more expensive to manufacture.
“What’s happening right now really emphasizes the need for a faster transition,” the press said. It shows that we need different energy mixes to make it safer, safer and more diverse. “
Hydrogen rainbow color
Green hydrogen It is made by electrolyzing water (H2O) using clean electricity from renewable energy technology and separating the hydrogen atoms in it from the molecular twin oxygen.Currently very expensive
Blue hydrogen Manufactured using natural gas, carbon emissions are recovered, stored or reused. Production is negligible due to the lack of capture projects.
Gray hydrogen This is the most common form of hydrogen production.Due to steam methane reforming from natural gas, but no emissions captured
Brown hydrogen It is the cheapest way to produce hydrogen, but it has the most negative impact on the environment due to the use of steam coal in the production process.
Turquoise hydrogen A process called methane pyrolysis is used to produce hydrogen and solid carbon. Not proven on a large scale.Concerns about methane leaks
Hydrogen power forecast to bring new dimension to energy geopolitics Source link Hydrogen power forecast to bring new dimension to energy geopolitics