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IOCs turn their attention to green hydrogen

 Last Update: 2022-04-24
 Source: Internet
 Author: User

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Leading international oil companies are restructuring their operations to adopt new energy transition technologies such as low-carbon hydrogen and become integrated energy suppliers, GlobalData said
.

The leading data analytics firm noted that with increased interest in hydrogen, some large integrated oil companies have announced projects to produce more than 2.

Barbara Monterrubio, Energy Transition Analyst at GlobalData, commented: “Some companies are moving faster and more decisively than others and are now increasing their investments primarily in green hydrogen production
.

This is due to their commitment to decarbonisation and a future from a hydrogen economy potential benefits from the expected growth

According to GlobalData's report "Hydrogen in Oil and Gas - Thematic Study", in order to decarbonize their business portfolios, companies have started investing in the development of green hydrogen projects, from which 87% of pipeline capacity comes from
.

Monterrubio continued: “In order to support a green hydrogen economy, Petronas has also improved their footprint in other areas of what is said to be the hydrogen economy
.

They are creating alternatives in the energy sector by investing in fuel cell technology, refueling networks and hydrogen storage.
Source of income

The refining and chemical industries account for the majority of existing hydrogen demand
.

Low-carbon hydrogen projects can help decarbonize oil and gas companies' own operations

Monterrubio added: “Hydrogen demand in other industries such as transportation and power is likely to grow rapidly
.

Hydrogen’s potential as a clean-burning alternative to traditional fuels makes it a good alternative as the oil and gas industry can leverage its assets in benefit from the growing hydrogen economy

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