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| Mon, 13th Jul 2020 6:00:00 |
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Why The Hydrogen Boom Is Good News For Natural Gas |
The European Union has set out its new hydrogen strategy as part of its goal to achieve carbon neutrality for all its industries by 2050.
The European Union has set out its new hydrogen strategy as part of its goal to achieve carbon neutrality for all its industries by 2050.
In a big win for the hydrogen sector, the EU has outlined an extremely ambitious target to build out at least 40 gigawatts of electrolyzers within its borders by 2030, or 160x the current global capacity of 250MW. The EU also plans to support the development of another 40 gigawatts of green hydrogen in nearby countries that can export to the region by the same date.
The EU has said that hydrogen will play a key role in helping decarbonize manufacturing industries and the transport sector. The organization says it will support blue hydrogen during a "transition phase," although it has not mentioned it in its topline targets.
Although a colorless gas, hydrogen gets referred to in colorful terms including blue, brown, green, and grey depending on how it's produced.
Although Brussels clearly favors "green" hydrogen produced by renewable energy, it has signaled that it will also encourage the development of "blue" hydrogen that is produced from natural gas paired with carbon capture and storage (CCS).
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