{"id":656362,"date":"2024-12-03T00:00:00","date_gmt":"2024-12-03T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/goinggreens\/creating-an-international-market-for-green-hydrogen-will-be-key-to-executing-the-green-transition\/"},"modified":"2024-12-03T00:00:00","modified_gmt":"2024-12-03T00:00:00","slug":"creating-an-international-market-for-green-hydrogen-will-be-key-to-executing-the-green-transition","status":"publish","type":"goinggreen","link":"https:\/\/enterpriseam.com\/egypt\/goinggreens\/creating-an-international-market-for-green-hydrogen-will-be-key-to-executing-the-green-transition\/","title":{"rendered":"Creating an international market for green hydrogen will be key to executing the green transition"},"content":{"rendered":"

If green hydrogen is going to play a big role in a new global green economy, we need a working international market and the infrastructure to support it <\/strong>:<\/strong> Green hydrogen and its derivatives \u2014 including ammonia, methanol, and e-kerosene \u2014 are expected to play a key role in the global energy transition, with the use of these fuels expected to account for around 14% of the world\u2019s overall energy consumption by 2050. However, the implementation of an international market for green hydrogen requires significantly scaled-up sustainable value chains, according to a report (pdf)<\/a> from the World Trade Organization (WTO) and the International Renewable Energy Agency (IRENA). <\/p>\n

International trade policy will have a crucial role to play \u2014 and, if done right, it could <\/strong>save a lot of money: <\/strong>Scaling up the production of green hydrogen on a global scale can only take place by \u201cmatching regions where these commodities are in high demand with regions benefitting from abundant supply,\u201d the report reads. Cross-border trade could help save some USD 3.7 tn in investment costs by mid-century by connecting high-demand areas with regions that can easily and cheaply generate the renewable energy needed to produce green fuels at a low cost. <\/p>\n

Policy makers will have to utilize what\u2019s available in their respective tool boxes: <\/strong>The report encourages policy makers to look into the resources and tools available to them in their economies that could help boost the development of an international market for green hydrogen, which include \u2014 but aren\u2019t limited to \u2014 \u201ctrade policies such as standardisation and certification mechanisms, government support and procurement, rebalancing tariffs, and carbon pricing mechanisms.\u201d <\/p>\n

The report\u2019s recommendations break down relevant interventions into<\/strong> three buckets<\/strong>, which it refers to as physical, institutional, and social \u201cenablers\u201d that can help support the development of international markets for these specific green commodities.<\/p>\n

The physical enablers laid out by the report focus on the infrastructure that is essential <\/strong>for integrating green hydrogen into global economies<\/strong>, including \u201crenewable energy generators, hydrogen production plants and derivative commodity production facilities,\u201d as well as \u201cinfrastructures for the storage, transport, distribution and delivery of hydrogen and derivative commodities.\u201d<\/p>\n

Remember: <\/strong>Green bunkering is part of this broader picture, with the Suez Canal Economic Zone \u2014 the ground zero for many of Egypt\u2019s green hydrogen and ammonia projects \u2014 previously saying<\/a> that it wants to roll out green methanol bunkering services before 2027 after receiving requests to supply ships with green methanol and gas. Blending green hydrogen into our existing natural gas pipeline infrastructure<\/a> is also an option to exploit as we build out green hydrogen-specific infrastructure.<\/p>\n

The report recommends a \u201cholistic\u201d approach to ensuring the availability of resources <\/strong>when planning for infrastructure development<\/strong> \u2014 one that takes into account the supply of renewable electricity, water, and carbon. It also calls for the prioritization of distribution infrastructure to \u201censure market access for producers,\u201d and emphasizes the need for developing diversified supply chains across related sectors.<\/p>\n

Institutional enablers also have a big role to play: <\/strong>Nascent regulatory frameworks will need to be developed further in order to implement a global green hydrogen economy, the report notes. Governments will need to consider a whole range of different policy measures and interventions \u2014 including carbon tax credits, emissions trading systems, electrolyser subsidies, investment incentives, the allocation of state-owned lands, and demonstration applications \u2014 in order to create the optimal conditions for the growth of domestic and international green hydrogen markets.<\/p>\n

On the global scale, developing shared standards is key:<\/strong> Given that the market is in its infancy, there is as of yet no clear alignment on global standards and certification requirements. These are needed to ensure that common definitions of what constitutes \u201cgreen\u201d hydrogen are being met across international borders.<\/p>\n

Developing green hydrogen markets could bring about considerable social benefits: <\/strong>Developing a global market for green hydrogen and its derivatives could lead to significant job growth and overall socioeconomic progress \u2014 but will necessitate training local workforces to work in the sector, the report notes. <\/p>\n

Emerging markets stand to benefit:<\/strong> The report estimates that further development of the global green hydrogen market could unlock around 22 mn jobs by 2050 \u2014 half of which would be in emerging markets and developing countries.<\/p>\n

Where Egypt stands:<\/strong> Our significant experience in gray and green hydrogen and ammonia is an optimal starting point for establishing a thriving low-carbon hydrogen economy. The country also has substantial renewable energy capacity, a strategic geographic location in terms of proximity to European countries with high green hydrogen demand, well-developed port infrastructure, and access to global maritime traffic through the Suez Canal.<\/p>\n

Looking ahead:<\/strong> Egypt is poised to be a relatively cost-competitive producer<\/a> in the global green hydrogen and green ammonia markets by 2030 as the costs of electrolyzer systems and financing \u2014 as well tariff prices for renewable energy generation \u2014 fall. While our green fuel economy still has room to grow, we seem to be well-positioned to take advantage of a global green hydrogen market once it emerges.<\/p>\n","protected":false},"excerpt":{"rendered":"

International trade policy will have a crucial role to play \u2014 and, if done right, could save some USD 3.7 tn in investment costs<\/p>\n","protected":false},"featured_media":656363,"template":"","categories":[7266],"tags":[93,72,7109,254,151],"class_list":["post-656362","goinggreen","type-goinggreen","status-publish","has-post-thumbnail","hentry","category-going-green","tag-energy","tag-enterpriseam","tag-going-green","tag-green-hydrogen","tag-renewables","wpautop","entry"],"acf":{"mongo_id":"d5cd3224-8895-4150-aa24-6f814ea501e0","order":"14","is_powered_by":false,"story_type":"2","photo_url":"https:\/\/ent.news\/2024\/10\/1267.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Creating an international market for green hydrogen will be key to executing the green transition","related_issue":[656337],"teaser":"International trade policy will have a crucial role to play \u2014 and, if done right, could save some USD 3.7 tn in investment costs","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/12\/.8fe3e5db-e3de-4bc1-bad1-e94d0cd63997.mp3"},"yoast_head":"\nCreating an international market for green hydrogen will be key to executing the green transition - 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