Page 4 - EurOil Week 29

EurOil COMMENTARY EurOil

Europe prepares for hydrogen

revolution

Governments and businesses alike are looking at hydrogen’s potential as an

energy source more seriously

EUROPE GOVERNMENTS and investors across Europe technologies. And this week the UK announced
are looking more closely at hydrogen energy, it was setting up a hydrogen council, due to serve
encouraged by the European Commission’s as a bridge between government and industry. It
recent unveiling of a bloc-wide strategy for cre- will be co-chaired by the UK Minister of State
ating a market for the fuel source. for Business, Energy and Clean Growth, Kwasi
The EU executive’s plan is to roll out at least Kwarteng, and the country chair of Royal Dutch
WHAT: 40 GW of electrolysers by 2030, producing up Shell, Sinead Lynch.
Panel no indent to 10mn tonnes per year (tpy) of hydrogen from “The aim of this council will be to explore
Panel indent water using renewable power sources. It calls and advance the development of hydrogen as
for both supply and demand-side incentives, to a decarbonised energy carrier for the UK and
WHY: establish a fully functioning hydrogen market. identify the priority actions which industry and
Panel no indent While the strategy prioritises this green government can take to unlock its potential in
Panel indent hydrogen, it also recognises the need for abated the 2020s,” Lynch said in a statement.
fossil fuel-based hydrogen, known as blue The UK is of course leaving the EU, and there-
WHAT NEXT: hydrogen, as a shorter-term solution while costs fore will have to devise its own ways of incentiv-
Panel no indent for water-derived hydrogen fall. ising hydrogen’s development. The government
Panel indent Several national governments have also on July 22 committed around GBP350mn
rolled out their own national hydrogen strat- ($397mn) to cut emissions in heavy industry
egies recently, including Germany, which is and drive economic recovery. This will include
striving to become a world leader in hydrogen GBP139mn to support the transition from gas to

P4 www. NEWSBASE .com Week 29 23•July•2020