Shipping's Vital Role in Accelerating the Hydrogen Economy Growth
Key Ideas
  • Shipping is identified as a crucial enabler of the hydrogen economy, connecting production regions with high consumption areas.
  • The report highlights South Korea, Japan, and the European Union as key markets driving hydrogen demand initially.
  • To meet the EU's hydrogen targets, an increase in the fleet by up to 300 vessels is projected for the EU2030 goal.
  • Infrastructure development, regulatory certainty, and government incentives are vital in overcoming barriers to new sectors adopting hydrogen.
A new report emphasizing the significant role of shipping in advancing the hydrogen economy has been released in collaboration with Professor Stefan Ulreich and the International Chamber of Shipping (ICS). The report outlines the sectors, locations, and timeline driving hydrogen demand and aims to decarbonize various industries. It stresses the importance of clean hydrogen as an energy carrier and feedstock to achieve net-zero emissions by 2050. According to the report, increasing the demand for hydrogen-based fuel sources is crucial to reach the net-zero scenario, with industry projected to be a major driver of hydrogen demand. The study identifies South Korea, Japan, and the EU as key markets fueling hydrogen demand, with the EU targeting 20 million tonnes of hydrogen annually by 2030. The International Energy Agency (IEA) predicts that hydrogen usage will remain static within existing industrial sectors until 2030, highlighting the need to address infrastructure, regulations, and power access barriers for new sectors to adopt hydrogen. Regulatory certainty and government incentives are deemed essential to promote early adoption of hydrogen. The maritime industry is crucial in connecting regions with surplus hydrogen to areas with high consumption, necessitating the development of port infrastructure and transportation facilities. The report envisions an increase in the fleet size to meet the rising demand for hydrogen transportation, with the requirement for up to 500 vessels if hydrogen is transported as ammonia on a global scale. Overall, addressing infrastructure challenges, promoting regulatory frameworks, and incentivizing demand are vital steps in realizing the potential of hydrogen in various sectors.
ADVANCEH2

Our vision is to be the world's leading online platform for advancing the use of hydrogen as a critical piece needed to deliver net-zero initiatives and the promise of a clean H2 energy future.

© 2024 AdvanceH2, LLC. All rights reserved.