Russia is betting on the future of the hydrogen market

Due to the increasing requirements of importers for fuel cleanliness, Russia recently stated that it has realized the rising demand for hydrogen and the feasibility of its commercial production

Will occupy 20% of the global hydrogen market

Russia’s hydrogen strategy aims to build Russia into one of the world’s leaders in hydrogen production and export, and account for 20% of the global hydrogen market by 2030, and hydrogen exports to reach 2 million tons/year by 2035, and by 2050 Reach 15 million to 50 million tons per year

With European natural gas spot prices soaring to record highs, at the Tyumen Oil and Gas Forum in mid-September, everyone's eyes once again turned to the development of the hydrogen industry as a potential substitute for natural gas

Russia plans to create at least three hydrogen clusters-the northwest for European exports, the east for Asian exports, and the Arctic for domestic use and potential exports

Targeting the European and Asian markets

Russia is currently focusing on the production of gray hydrogen and blue hydrogen using natural gas as a raw material

Russia has huge natural gas resources.

According to data from S&P Global Platts, Russia’s hydrogen export target is 15 million to 50 million tons/year of export market share, which is worth 30 billion to 100 billion U.

　　In addition, the Russian Ministry of Energy said that within 10 years, the Beixi-2 pipeline should be ready for the transportation of hydrogen, so as to solve the transportation problem that doubles the price of hydrogen

　　Russian President Vladimir Putin said earlier this month that Russia should also consider producing green hydrogen and ammonia in the Far East, targeting Asian customers, mainly China and Japan, because demand in these regions will grow steadily in the coming decades

　　Increase international cooperation

　　In order to attract foreign investment and technology, Russia has been considering encouraging foreign companies willing to participate in Russia’s joint climate change and clean technology projects

　　Sorokin said at the forum: “We don’t want to rely 100% on our Western partners.

　　Recently, officials from Occidental Petroleum, which has been involved in the Russian energy industry for a long time, have also expressed interest in participating in Russian hydrogen projects, including BP and Total Energy