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News | 13-05-2024 | 12:00
Today in Rotterdam, the Netherlands, the second Ministerial Executive Roundtable was hosted by the International Hydrogen Trade Forum (IHTF) and the Hydrogen Council, building on the success of the first Ministerial Executive Roundtable chaired by His Excellency Suhail Al Mazrouei, UAE Minister of Energy, during COP28.
The roundtable was chaired by Rob Jetten, Minister of Climate and Energy Policy and Deputy Prime Minister of the Netherlands and Co-Chair of the IHTF, and brought together nearly two dozen ministerial officials from IHTF-supporting countries, representing potential hydrogen importers and exporters, and a delegation of 15 Hydrogen Council executives led by Yoshinori Kanehana, Co-Chair of the Hydrogen Council and Chairman of the Board of Directors of Kawasaki Heavy Industries, Ltd.
The roundtable featured a ministerial dialogue that explored global cross-border trade corridors for hydrogen and its derivatives from the Middle East, Africa and the Americas to Europe and Asia, and considered the status and prospects for deployment of various hydrogen carriers, supporting infrastructure, and the needs of end-use sectors.
Rob Jetten, Minister for Climate and Energy Policy and Deputy Prime Minister, said: “We believe that better coordination is urgently needed between public and private sector decision-makers to advance the development of cross-border supply chains for hydrogen and its derivatives. This is why the Netherlands has taken the initiative to co-host the second IHTF-Hydrogen Council Ministerial Roundtable. The hydrogen supply chain will play a key role in accelerating decarbonization, improving security of supply and unlocking socio-economic benefits around the world. Together with our partners, the Netherlands is committed to opening the door to the European hydrogen market and driving decarbonization and sustainable growth in our industry.”
Sharif Al Olama, Undersecretary of State for Energy and Infrastructure, said: “Today’s Ministerial Dialogue is an important milestone in public-private collaboration, paving the way for the development of a global hydrogen market. Analysis conducted by the IHTF and the Hydrogen Council shows that, in addition to important climate benefits, cross-border hydrogen supply chains can also deliver cost efficiencies, helping to save an estimated $3.7 trillion in energy system costs by 2050 and providing quality jobs across all regions. The UAE remains committed to continuing to work with partners in Europe and Asia to achieve its goal of becoming one of the world’s leading low-carbon hydrogen producers by 2031.”
The roundtable discussion, based on the IHTF and Hydrogen Council’s analysis of emerging trade routes and import and export hubs, highlighted the following three key elements needed to kick-start global cross-border hydrogen trade:
1. Greater clarity, certainty and support for demand drivers is critical at this stage of market development. Accelerating the implementation of announced demand-pull measures remains key to securing the first 3-7 million tpy of mandatory demand to kick-start the market.
2. Infrastructure development of inter-regional corridors to allow technologies to compete fairly, rather than “picking winners”, so that the most cost-effective and sustainable solutions can flourish.
3. Coordinated global market rules, industry standards and mutually recognized certification systems will become the pillars of the development of the international hydrogen energy market.
Yoshinori Kinka, Co-Chair of the Hydrogen Council and Chairman of the Board of Directors of Kawasaki Heavy Industries, Ltd., said: “The Hydrogen Council is pleased to co-host the second Ministerial Roundtable to focus on the progress, bottlenecks and facilitators in our COP28 Action Statement to accelerate the development of cross-border value chains for hydrogen and its derivatives to achieve our net zero emissions goals. As we seek to create a truly global market, it remains critical to continue international cooperation on standards and certification solutions to achieve market interoperability.”
Sanjiv Lamba, Co-Chair of the Hydrogen Council and CEO of Linde, said: “This is a critical time for public-private partnerships in hydrogen. While hydrogen production projects are maturing, with many announced and entering the FEED phase or beyond, uncertainty on the demand side is delaying final investment decisions. The Hydrogen Council remains committed to advancing the deployment of the global supply chain with the IHTF. By ensuring close collaboration between governments and industry, implementing strong demand-side incentives, and building strong industry partnerships, we can build investor confidence and move projects forward.”
“Energy is a key driver of development. We have the technology and knowledge to enable a low-carbon economy and industrial development. This is why UNIDO is prioritizing building hydrogen supply chains, which is so important for emerging markets and developing economies as they build the Global Hydrogen Partnership. The latest IHTF analysis shows that a truly global hydrogen economy has the potential to create up to 25 million jobs in the sector by 2050. UNIDO, as the IHTF Secretariat, is fully committed to supporting public-private partnerships to build cross-border trade corridors and promote a just transition to a green hydrogen economy that leaves no one behind,” said Gunther Beger, Executive Director of UNIDO.
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