Roman Kramarchuk said moving away from colors of hydrogen production would be a more effective way of developing an international hydrogen market.
“From a COP perspective, it’s not that we want hydrogen; it’s that we want decarbonization,” Kramarchuk said at the summit. “The reality is that hydrogen is expensive,” he said. “We’re looking at hydrogen as a next-generation fuel because it is a decarbonization fuel.” For this reason, hydrogen should be deployed in areas where it has the greatest decarbonization potential, such as in steel production, he added. The most cost-effective and climate-friendly routes for hydrogen production would depend on the natural resources of potential locations, Kramarchuk said.
The carbon intensity of each production pathway could be separately assessed and accounted for with instruments such as guarantees of origin traded in secondary environmental markets, he added. That way, two large, liquid global markets could emerge -- one for hydrogen and another for GOs -- rather than a multitude of fragmented markets based on locally-mandated production pathways. German utility Uniper's COO and Chief Sustainability Officer David Bryson said GOs and verification would be critical to enable the international hydrogen trade that Europe will rely on to meet its decarbonization ambitions, and hoped COP26 would produce some clarity in this area.
Kramarchuk noted low-cost production centers such as Australia could become global exporters of hydrogen. S&P Global Platts assessed the cost of producing renewable hydrogen via alkaline electrolysis in Europe at Eur9.88/kg ($11.33/kg) Nov. 10 (Netherlands, including capex), compared with just $2.31/kg in Western Australia. Platts Analytics Hydrogen Production Asset Database has tracked a 20-fold increase in renewable and low-carbon hydrogen project announcements globally in the last 18 months, with announced projects amounting to over 20 million mt/year of capacity, approaching a third of the current global hydrogen market.
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