• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 5 hours Could Someone Give Me Insights on the Future of Renewable Energy?
  • 4 hours How Far Have We Really Gotten With Alternative Energy
  • 5 hours "What’s In Store For Europe In 2023?" By the CIA (aka RFE/RL as a ruse to deceive readers)
  • 2 days Bankruptcy in the Industry
  • 3 days The United States produced more crude oil than any nation, at any time.
Will Namibia Become OPEC’s Newest Member?

Will Namibia Become OPEC’s Newest Member?

Namibia wants to join OPEC…

China Set To Become The World’s Largest Green Hydrogen Importer By 2030

China could become the world's largest importer of green hydrogen by the end of this decade as it will need 13 million of imported hydrogen annually to decarbonize various industrial sectors, Deloitte said in a new report.

European demand for clean hydrogen will be around 10 million tons by 2030, while Japan and South Korea will each need 7.5 million tons of green hydrogen per year by the end of the decade, per the report, cited by South China Morning Post.

"Clean hydrogen will most likely play an important role in the future energy system – particularly in decarbonizing sectors that cannot be realistically electrified; the so-called "hard-to-abate" sectors," Deloitte said in the report

Green hydrogen is expected to be used in sectors such as methanol, refining, aviation, and road freight, and expand into other sectors such as shipping thereafter, the consultancy notes.

Various green hydrogen projects have been announced globally so far, but the capacity announced to date will need to triple by 2030 if the world is to stay on track with the net-zero by 2050 scenario of the International Energy Agency (IEA), according to Deloitte.

"Although announcements of clean hydrogen supply projects are accelerating, three times the capacity announced so far will need to come onstream by 2030, to meet expected demand," Deloitte's analysts wrote in the report.

Green hydrogen has gained new momentum after the energy crisis, with governments looking to support domestic hydrogen-making industries to meet climate targets and reduce dependence on foreign energy resources.

The Inflation Reduction Act (IRA) in the United States includes tax credits for clean hydrogen, while the EU's renewables strategy includes the ambition to produce 10 million tons and import 10 million tons of renewable hydrogen in the EU by the end of this decade. The European Commission has outlined a 'hydrogen accelerator' concept to scale up the deployment of green hydrogen, which, the EC says, will contribute to accelerating the energy transition and decarbonizing the EU's energy system.   


By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:

Join the discussion | Back to homepage

Leave a comment
  • George Kafantaris on June 10 2023 said:
    The hydrogen cars are superb and the folks that drive them are very happy. But they can only drive them in California that now has a rudimentary infrastructure to refuel them. It doesn’t have to be this way. All it takes is a tanker full of liquid hydrogen and a dispensing pump and we can have a hydrogen station anywhere, including in the middle of the desert. And this station can refuel hydrogen cars all day long — and also refuel hydrogen generators to charge battery cars.

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News