Letter from London: Hydrogen’s growing pains
The clean hydrogen sector has endured a difficult year, but it will end 2024 better equipped to fulfil its long-term potential
Will the clean hydrogen sector end this year in better shape than 12 months ago? On the face of it, recent evidence points to a resounding ‘no’, given project cancellations, plunging stock prices, very limited progress in reaching FID and widespread reluctance to commit to long-term offtake deals. UK company Johnson Matthey added to the gloom in late November when it reported a 46% year-on-year drop in first-half sales of hydrogen technologies, citing the “the slowing buildout of supply chains and infrastructure due to a lack of clarity around regulation and incentives.” It has reduced capex and headcount in its hydrogen business, and delayed the startup of an £80m ($101m) fuel-cell componen
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25 February 2026
Low-carbon hydrogen and ammonia development is advancing much more slowly and unevenly than once expected, with high costs and policy uncertainty thinning investment. Meanwhile, surging energy demand is reinforcing the role of natural gas and LNG as the backbone of the global energy system, panellists at LNG2026 said
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Norwegian energy company has dropped a major hydrogen project and paused its CCS expansion plans as demand fails to materialise
4 February 2026
Europe’s largest electrolyser manufacturers are losing patience with policymakers as sluggish growth in the green hydrogen sector undermines their decision to expand production capacity
2 February 2026
As a fertiliser feedstock, it is indispensable, but ammonia’s potential as a carbon-free energy carrier is also making it central to global decarbonisation strategies
