06.09.2022 Views

The Energy Republic September Edition

This magazine is a Special Edition focused on the global energy transition agenda. We also did a spotlight on some countries and energy companies decarbonization strategy which will serve as a statistics to measure the ongoing progress and investment opportunities in energy transition. This particular’ edition, we featured Ukraine’s oil and gas potentials coupled with the just concluded Offshore Northern Seas (ONS) Conference 2022 held in Stavanger Norway, plus latest industry news in the Northsea and other regions as well.

This magazine is a Special Edition focused on the global energy transition agenda. We also
did a spotlight on some countries and energy companies decarbonization strategy which
will serve as a statistics to measure the ongoing progress and investment opportunities in
energy transition. This particular’ edition, we featured Ukraine’s oil and gas potentials
coupled with the just concluded Offshore Northern Seas (ONS) Conference 2022 held in
Stavanger Norway, plus latest industry news in the Northsea and other regions as well.

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INDUSTRY NEWS

Hydrogen Will Contribute

20% Solution for Energy

Transition – Daryl Wilson

With the current global trends on

c l i m a t e c h a n g e a n d

discussions for a low-carbon

future under the energy transition

agenda, coupled with the Net-Zero

Emissions target by 2050, Hydrogen will

contribute 20% solution in decarbonizing

the energy systems, the Executive

Director of Hydrogen Council, Daryl

Wilson said.

Hydrogen will play a key role in the global

energy transition by helping to diversify

energy sources worldwide, and foster

business and technological innovation as

drivers for long-term economic growth,

with enormous benefits for both the

energy system and other end-use

applications in the energy value chain.

Speaking in an exclusive interview with

Ndubuisi Micheal Obineme, Managing

Editor of The Energy Republic, Daryl

Wilson said that Hydrogen will become

part of the future energy systems, and it’s

a versatile energy carrier that can be

used in a wide variety of applications,

such as refining gasoline, making

ammonia fertilizer, refining liquid fuels

f o r s u s t a i n a b l e a v i a t i o n f u e l ,

transportation, and several other

processes.

Over the years, Daryl explained that the

main impediment was the perception

that Hydrogen is very expensive and it

will remain an expensive energy option.

According to him, Hydrogen Council in

partnership with McKinsey and Company

developed a report which shows that the cost

of hydrogen production for transportation,

major industries, and energy generation will

reduce just like the scenario for wind and

solar energy.

“Hydrogen is critical for transportation and

there’s been a lot of discussion about electric

vehicles and they play an important role. The

Hydrogen Council released a report in

October last year, showing that our future

transportation sector will be served by both

hydrogen and batteries. Hydrogen and

batteries are not in competition; they are

complementary solutions to decarbonize the

energy sector.

“There is a special role that hydrogen will play,

especially around long distance and heavy

transport – whether that’s long-distance

passenger cars or long-distance trucks.

Hydrogen has a very special role to play there

as hydrogen brings more capacity to a vehicle

than you will be able to realize from a battery.

“There are also places in the world like Japan,

Korea and in eastern China, whether or not

substantial renewable energy resources and

hydrogen will be a way of bringing clean

energy to those geographies so that they can

decarbonize their transportation systems

directly on hydrogen.

“And, in our report, we communicated our

assessment that hydrogen will be 22% of final

energy use by 2050. That’s fully 20% of the

solution for climate change. It’s not a small

contribution that hydrogen will make in the

coming decades.

“We’ve been very successful with our mission

to convince energy policymakers that

hydrogen is a viable part of the future energy

system.

“There are many more hydrogen projects on

the pipeline to decarbonize the global energy

systems. More than 30 countries around the

world have announced strategies supporting

hydrogen as the main part of their future

energy plan. Many of those countries have

put in place very significant amounts of

funding: exceeding $10 billion in the case of

France and Germany, exceeding $20 million in

the case of China, and $10 billion in the United

States. There have been very large funding

commitments as well as policy commitments.

“Now, we’re in the phase of implementation.

There have been many announcements and

commitments of funding. These now need to

b e f o l l o w e d u p w i t h t h e a c t u a l

implementation of these projects so that they

have an impact on the energy systems,” Daryl

added.

74

THE ENERGY REPUBLIC I SPECIAL EDITION

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