OAPEC: green hydrogen to be the most used for next few years

The green hydrogen will be the most used in the next few years, especially given the energy security challenges associated with the Russian-Ukrainian crisis and efforts to address climate change, OAPEC’s World Petroleum Situation Report showed.

A high-level round table was held at COP27, titled “Investing in the Future of Green Hydrogen Energy“, strengthening global cooperation in unlocking the potential for green hydrogen production and apply it as part of future clean energy transition.

The objective of the session is to allow for a deep exchange on the future of energy, focusing on hydrogen, the aim is to allow for a better understanding of the current status of hydrogen production.

The meeting focused also on decarbonisation of industries and sectors whose emissions are difficult to mitigate, as well as the need to support the integration of green hydrogen road maps into nationally determined contributions.

This through financial incentives that drive the production and use of green hydrogen, and encourage multilateral development banks, international development institutions and commercial banks to include low-carbon hydrogen.

In partnership with Egypt and Belgium will launch Global Renewable Hydrogen Forum, which aims to establish a permanent platform between hydrogen-producing countries and hydrogen-consuming countries, private sector, organisations and financial institutions operating.

The forum will also search for the best tools that enable cross-border trade between renewable energy-rich developing countries and developed countries to enhance the global green hydrogen value chain.