Surging gas prices drive $73bn spend on green hydrogen
Germany, Morocco and the US make biggest investment pledges as green hydrogen costs undercut blue and grey in most regions in wake of war in Ukraine, says Carbon Tracker
The world economy has committed about $73bn of private and public funds to green hydrogen production in response to a surge in natural gas prices sparked by the war in Ukraine, according to NGO Carbon Tracker. Twenty-five countries, mostly in the Global North, have committed funds—with Germany, Morocco and the US pledging the most. The acceleration in investment has been driven by a 70pc+ rise in gas prices since the start of the war in February. This has caused the levelised cost of blue and grey hydrogen to “skyrocket”, making green hydrogen relatively cheaper in most regional markets on a levelised cost of energy basis, Carbon Tracker says. “The price of green hydrogen has steadily
Also in this section
22 October 2024
Hydrogen is making inroads as a fuel for power plants as governments seek clean fuels to back up intermittent wind and solar
21 October 2024
Gulf Energy Information will host the largest women's event in the energy industry on 19–20 November in Houston, Texas
18 October 2024
Project in northeast of country set to start up in 2025 as developer signs technology deal with Icelandic firm Carbon Recycling International
17 October 2024
Experts debate carbon pricing and fossil fuel subsidies in the MENA region on second day of summit