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Hydrogen set to emerge as the next low carbon gas technology
Clean hydrogen has the potential to abate 37 percent of energy related greenhouse gas emissions, according to the Global gas report 2020 published by the International Gas Union, research company BloombergNEF and Snam, the Italian-headquartered international gas infrastructure company .
The development of an international hydrogen market would require meaningful infrastructure investment and substantial policy decisions to accelerate adoption in long term. There are major opportunities to scale up the use of low carbon gas technologies post pandemic.
However, this would require nations to abide by several prerequisites including including emissions pricing linked to clear, Paris-aligned long-term climate targets; harmonized standards governing hydrogen use; coordinated strategies regarding regional and global infrastructure roll-out, and the deployment of hydrogen-ready equipment, such as pipelines, gas turbines and end-use appliances.
“While the economics are challenging today, a joined-up policy approach could unleash the investment needed to bring costs down, develop scalable business models and drive adoption across the hard-to-abate sectors,” explained Jon Moore, CEO of bloombergNEF.
Potential Resources
The report also noted that Germany, which is pursuing rapid development in Hydrogen, could procure cost competitive hydrogen at about $1/kg in 2050 from a variety of sources.
Global gas demand has fallen by 4 per cent following the Covid-19 pandemic but the analysts believe that resulting low prices will promote further switching to gas and development of low carbon gas technologies.
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