Ukraine war to lift green hydrogen demand in Europe – DNV

New modelling implies acceleration in demand and price reductions as policymakers ramp up support, risk management company says

European policy support for green hydrogen will increase in the wake of the war in Ukraine, accelerating both demand and the decline in prices, according to risk management company DNV. The firm’s latest modelling, which assumes Europe imports no Russian natural gas from 2025 in response to the invasion of Ukraine, implies a 12pc drop in green hydrogen prices compared with its pre-war base case for 2030. Green hydrogen demand in 2030 is 25pc higher compared with the pre-war base-case. “Europe has limited capacity for producing sufficient renewable electricity to simultaneously phase out fossil fuels from the power mix and produce meaningful amounts of green hydrogen,” DNV says. “We ant