Smoke rises from the Fujairah oil industry zone in the UAE following interception of a drone
Letter on hydrogen: Global risk
Turmoil in Middle East reminds nascent clean hydrogen sector that its future prospects are dependent on global energy markets and geopolitics
It can be tempting to view the nascent clean hydrogen industry in isolation from the rest of the global energy complex. After all, hydrogen-specific government policies, subsidies and electrolyser technology are the key drivers of this new industry as it attempts to scale up, right? However, the turmoil unleashed in the wider energy market in early March, as the US/Israel-Iran conflict escalated across the Middle East, served as a stark reminder that the clean hydrogen sector is also highly exposed to global energy markets and geopolitics. Natural gas prices in Europe surged 50% at one stage as military strikes led to the suspension of LNG production at Ras Laffan in Qatar, a complex respons
Also in this section
18 March 2026
The second fossil-fuel price shock in four years can be a much-needed catalyst for investment in the sector
9 March 2026
Hydrogen has not stalled in the UK because the technology does not work. The problem is that the system around it does not yet move at the speed required
4 March 2026
Turmoil in Middle East reminds nascent clean hydrogen sector that its future prospects are dependent on global energy markets and geopolitics
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
