IRENA: A quarter of global hydrogen demand to be met by international trade by 2050

For hydrogen trade to be cost-effective, the cost of producing and trading green hydrogen must be low, according to the International Renewable Energy Agency (IRENA) in its new report series.

Hydrogen trade can promote a more diverse and resilient energy system, decarbonize national economies, and benefit both producers and consumers

"Global hydrogen trade to meet 1.

Three-quarters of the world's hydrogen will still be produced and used locally by 2050, as the cost of renewable energy falls and the global hydrogen potential exceeds global energy demand by a factor of 20

This is a significant change from the large international transactions in today's oil market, but similar to the fact that one-third of the gas market is cross-border

Francesco La Camera, director general of Irena, said that access to sufficient renewable energy is not enough to win the hydrogen competition, and the development of hydrogen trade is also necessary

True, hydrogen trade can offer countries multiple opportunities, from decarbonizing industry to diversifying supply and improving energy security, he noted

But the government must make a major effort to turn trade aspirations into reality, La Camera added

　　Irena's World Energy Transition Outlook believes that by 2050, hydrogen will cover 12% of global energy demand and reduce carbon dioxide emissions by 10%

　　However, hydrogen can only become a viable climate solution if the electricity needed to produce it goes hand in hand with the electrification of the energy system, making greater use of renewable energy at the heart of the transition

　　By 2050, half of all hydrogen will be traded through mostly existing, repurposed natural gas pipelines, which will significantly reduce transportation costs, according to a new report

　　By comparison, transportation through the new pipeline will cost twice as much

　　According to Irena, future trade through pipelines will be concentrated in two regional markets, Europe, which accounts for 85% of the world, and Latin America, which accounts for 15% of the world

　　The new trade market will allow energy players to play a different role

　　It added that Africa, Australia and North America accounted for three-quarters of global exports