Hydrogen in Europe: Out of the Starting Blocks
A new European Commission communication proposes an EU hydrogen strategy. Together with five recently announced national strategies and a strong statement from the Pentalateral Forum, this represents a new and positive framework for companies that are now developing hydrogen projects as a key part of their energy operations.
The timing is significant. All the strategies were published after the start of the coronavirus disease 2019 (COVID-19) crisis, between March and July 2020.
Taken together, these strategic proposals give a strong signal that hydrogen and decarbonization of gas are integral to medium-term "green recovery" packages and are needed to meet Europe's 2030 and mid-century net-zero carbon targets.
The strategies clearly describe governments' intentions for hydrogen; they each propose specific project support measures, and all stages of the hydrogen value chain are covered.
The strategies envisage a major role for low-carbon gas in the energy system of the future. Moreover, they anticipate the development of an intra-EU and internationally traded market for hydrogen within 10 years.
Learn more about our coverage of hydrogen as an energy carrier through our Hydrogen and Renewable Gas service.
Posted 12 August 2020
This article was published by S&P Global Commodity Insights and not by S&P Global Ratings, which is a separately managed division of S&P Global.