Hydrogen energy forecasting will bring a new dimension to the geopolitics of energy

According to the International Renewable Energy Agency (Irena), the gas crisis in Europe 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 feature of the oil and gas system,” Irena’s secretary, Francesco La Camella, told the Financial Times. “Shifting 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 political priority for many countries as they prepare to reduce emissions to “net zero” from here 2050. ..

Irena’s report, released on Saturday, predicts that the geopolitics of oil and gas, where producing countries have the power to influence prices, will decline as new fuels, including hydrogen, become more dominant. ..

It concludes “a new mapping of energy geopolitics” and as production increases around the world, an improved “hydrogen diplomacy” will emerge.

Elizabeth Press, director of Irena, said: plan.

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La Camera says the green hydrogen market is already growing “a little faster than expected a few months ago”, pointing to recent deals in Germany, Uruguay and Brazil.

Irena estimates that hydrogen can supply 12% of global energy demand by 2050 if we drastically reduce global emissions and limit global warming to 1.5°C.

However, La Camella predicted the market would develop in a “regional rather than global” direction, saying 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.

Major energy consumers such as the US, China, EU, Japan, India and South Korea have already made hydrogen a major component of their energy programs.

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Over the next decade, about $65 billion will be allocated to hydrogen production, with Germany, France and Japan expected to be the biggest investors.

Transporting the gas is difficult, but it can be converted to ammonia for long-distance transport or transported through existing gas pipelines. Last year, a shipment 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 the main producers of hydrogen due to supportive policies and the availability of renewable energies. We conducted a survey for which it is most suitable. ..

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Fossil fuel producers can also switch to hydrogen production instead of oil and gas. Saudi Arabia, which is seeking to diversify its reliance on oil and gas, said this week it aims to become the world’s cheapest producer of green hydrogen.

There are two main methods of producing hydrogen. Green hydrogen is produced from renewable energy and blue hydrogen is produced from natural gas.

To achieve 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 seem 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 close to 2040. Currently, the cost of the electrolytic cell, which is the machine needed 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, more secure and more diverse. “

Hydrogen rainbow color

© Christopher Furlong/Getty Images

green hydrogen It is made by electrolyzing water (H2O) using clean electricity from renewable energy technology and separating the hydrogen atoms it contains from the twin molecular oxygen. Currently very expensive

blue hydrogen Made from natural gas, carbon emissions are captured, 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 are 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 energy forecasts will bring a new dimension to energy geopolitics Source link Hydrogen energy forecasts will bring a new dimension to energy geopolitics

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