Middle East

Fusion Fuel management viewed the deal as an “opportunity to recalibrate its business strategy to better align with current market conditions.”

Calling for stakeholders globally to scale up hydrogen by offering demand creation, standards and certification, finance, capacity building, trade, R&D and sustainability, the declaration launched ahead of COP is not part of official negotiations.

“e-NG produced in Azerbaijan could be delivered to Europe via the existing gas network infrastructure, such as the Southern Gas Corridor,” a joint statement said.

“Since it’s chemically identical to natural gas, we believe the future total accessible market potential for e-NG is massive,” Lei Chen, Chief Commercial Officer (CCO) at TES told H2 View.

Air Products CEO Seifi Ghasemi has announced ongoing negotiations for additional offtake from the 2.2GW NEOM green hydrogen plant in Saudi Arabia, driven by sustained high demand for hydrogen.

The UAE’s TA’ZIZ chemicals hub has awarded over $2bn in engineering, procurement and construction (EPC) contracts to develop key site infrastructure, including a blue hydrogen-based ammonia export facility.

“I’m pleased actually, that a reality check is in place because that’s what we need for substantial development in the hydrogen space,” Linde CEO, Sanjiv Lamba, remarked.

Despite the IEA highlighting the EU’s REFuelEU Aviation policy as a “major driver” of the demand, in its STEPS scenario, just one-sixth of the 120GW will be installed in Europe.

The Energy Technology Perspectives 2024 report expects electrolyser manufacturing investments to peak “well before” 2035 in all three of its scenarios.

“Across renewables and hydrogen, we expect to benefit from around $200m reduction in annual cash costs, as a result of focusing our portfolio,” said Kate Thomson, bp’s Chief Financial Officer (CFO).