Seas of Opportunity: Meeting Europe's Hydrogen Demand through Shipping
Key Ideas
  • The International Chamber of Shipping forecasts a significant increase in the demand for hydrogen carriers to transport the amount of hydrogen slated for use by the EU.
  • The report emphasizes the need for scaling up renewable electricity demand for green hydrogen production to meet future hydrogen demand and achieve net-zero emissions by 2050.
  • Prof. Ulreich's analysis projects the need for hundreds of new vessels to transport hydrogen, highlighting the pivotal role of the shipping sector in enabling the hydrogen economy.
  • To support the growth of a hydrogen-based economy, coordinated actions are required to develop production infrastructure, transport vessels, ports, and pipeline connections.
The International Chamber of Shipping (ICS) has initiated a hydrogen demand forecast, recognizing it as a 'once-in-a-generation opportunity'. The report, authored by Professor Stefan Ulreich, evaluates the potential of green hydrogen in decarbonizing various sectors. It outlines the necessity for a significant increase in hydrogen carriers to cater to the EU's hydrogen consumption. The projected global demand for hydrogen-based fuels is expected to surge fivefold by 2050, requiring a monumental scale-up in production and transport infrastructure. Prof. Ulreich's analysis indicates the need for hundreds of new vessels to handle the escalating hydrogen trading volumes. The report underlines the critical role of the shipping sector in advancing the hydrogen economy, stressing the importance of coordinated efforts to facilitate the required infrastructure development. By emphasizing the markets driving initial hydrogen demand, such as South Korea, Japan, and the EU, the report sheds light on the imperative of meeting ambitious hydrogen targets. Ultimately, the report calls for proactive measures to bolster the hydrogen transport ecosystem and ensure the seamless movement of hydrogen to its end users.
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