Page 17 - FSUOGM Week 45

FSUOGM POLICY FSUOGM

market research on production and exports of Energy Minister Alexander Novak said in
hydrogen. October that Russia was focusing on hydro-
Gazprom estimates the hydrogen market to gen development as the world shifts toward
be worth €153bn ($179bn) by 2050, while the decarbonisation.
ministry puts the figure at $32bn-164bn.
The competitive advantages of Russia in the IEA data
growing market could be excess generating The International Energy Agency (IEA) pre-
capacities, proximity to main consumers (EU, dicts that global hydrogen demand will surpass
China and Japan), as well as existing transporta- 130mn tonnes in 2040 and 500mn tonnes by
tion infrastructure. 2070, up from 71mn tonnes in 2019.
Indeed, Sorokin mentioned that Japan, China The IEA said in its hydrogen report in 2019
and South Korea, as well as European countries that the gas could play a larger role in decarbon-
such as Germany and France, were promising isation, especially in industrial sectors where
export destinations reducing emissions is proving to be difficult.
He highlighted that hydrogen could be used The IEA identified long-haul transport,
in transportation, oil refining and the produc- chemicals and iron and steel production as being
tion of electricity, chemicals and fertilisers. ideal candidates for using hydrogen.
Sorokin stressed that cutting transportation “Hydrogen is today enjoying unprecedented
costs and safe transit will be the biggest challenge momentum, driven by governments that both
for Russia's hydrogen exports. He said Russia was import and export energy, as well as the renew-
considering mixing hydrogen into existing gas ables industry, electricity and gas utilities,
pipelines for Europe and transporting hydrogen automakers, oil and gas companies, major tech-
by ship to Japan and other Asian countries. nology firms and big cities,” said IEA chief Fatih
Sorokin’s comments come after Russian Birol said in 2019.™

PERFORMANCE

Russian gasoline output

slides 10% in October

RUSSIA RUSSIAN gasoline output fell 10% in October Lukoil processing plants.
to 96,000 tonnes per day (3mn tonnes in total), Gasoline production was down 11.6% year
preliminary Energy Ministry data shows, amid on year, in line with the 11.1% fall in refining
weaker demand and autumn maintenance volumes.
work. Demand for motor fuels still trails behind
The decline in gasoline production outpaced the levels seen last year, owing to the economic
the 4.6% fall in overall refining throughput to fallout from the coronavirus (COVID-19) pan-
21.42mn tonnes (5.06mn barrels per day). A demic. Russia has seen declines in both export
number of large-sized refineries had gasoline and domestic fuel sales. Gasoline shipments to
units offline for maintenance during the month, the domestic market were down 10.3% in Octo-
including Gazprom Neft’s 243,000 bpd Moscow ber 1-28 versus the September average, at 88,000
refinery, the 178,000 bpd Taneco refinery and tonnes per day, according to the Energy Minis-
the 166,000 bpd Taif refinery, as well as some try. ™

Week 45 11•November•2020 www. NEWSBASE .com P17