Energy transition highlights: Our editors and analysts bring you the biggest stories from the industry this week, from renewables to storage to carbon prices.
The outlook for hydrogen storage and transport demand in the mobility sector is improving as the industry emerges from a period of high interest rates, inflation and scaling-up challenges, storage cylinder producer Hexagon Purus CEO Morten Holum told S&P Global Commodity Insights.
Holum said the green hydrogen market had entered a “more realistic” phase, and he was more confident in the outlook now, even compared with the early 2020s when enthusiasm for the clean energy carrier pushed shares in hydrogen-oriented companies to astronomic heights.
“I’m more confident now than I was three, four years back, even during the hype, that we’re on the right track,” Holum said in an interview.
Momentum for hydrogen mobility is now on a surer footing globally, with government policy widely established to drive market uptake, he said.
Learn more about Platts hydrogen price assessments
Editor’s picks
Utilities, private sector not prepared for increased US power demand: experts
Flat power demand in the US has ended, and planning is necessary to prepare for the increased load ahead, speakers said at a webinar hosted by the Center for Strategic & International Studies Feb. 28, emphasizing the need to accommodate growing demand while keeping the grid resilient, affordable and ever cleaner.
Petronas urges EU to rethink palm oil phaseout, flags biofuel affordability
Malaysian state-owned oil company Petronas has urged EU lawmakers to adopt a more permissive stance toward palm oil-based biofuels, flagging cost advantages and concerns around a just transition for Asian producers.
Saudi Arabia’s Neom on track for first hydrogen by Q4 after all big contracts awarded
Neom Green Hydrogen Co., which aims to produce 600 mt/day of hydrogen from wind and solar power in Saudi Arabia, has awarded all major contracts and is on schedule for first production by the fourth quarter, CEO Wesam Y. Alghamdi said Feb. 29.
China’s Xi highlights energy transition, upgrading economy ahead key political meetings
China sees energy transition as the cornerstone of economic growth and will focus on “new productive forces” to upgrade its industrial supply chains, President Xi Jinping said Feb. 29 at a meeting with the Politburo of the Chinese Communist Party, state media Xinhua reported March 1.
How a tax incentive could stifle the growth of US green hydrogen production
The US Treasury Department’s effort to unlock the potential of a green hydrogen industry through tax incentives will have the opposite effect, choking out the industry in its infancy, according to public comments from industry representatives.
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