Hydrogen targets under threat as FIDs lag

Next three years will be critical to industry’s ability to scale up to 2030 capacity targets, say speakers at Gastech

New low-carbon hydrogen project announcements have accelerated sharply over the last 12 months but FIDs remain elusive, threatening the sector’s ability to meet government-led 2030 production capacity targets, according to speakers at the Gastech conference in Milan in early September. The number of new projects unveiled by developers in the last 12 months has risen by 50pc, with Latin America showing the largest increase, Markus Wilthaner, partner and co-leader of global hydrogen at consultancy McKinsey, told the Gastech conference in Milan. But FIDs on projects rose by only 10pc over the same period, he said. McKinsey has identified 680 large-scale projects at the proposal stage, projectin