HomeMediaLatest NewsThe world economy transition to hydrogen will end with metal corrosion

The world economy transition to hydrogen will end with metal corrosion

28 October 2021

Belogoryev Alexey M. Research and Development Director, Director of the Center for Energy strategic analysis and forecasting

Alexey Belogoryev, Deputy Principal Director on Energy Studies at the Institute for Energy and Finance, commented on the prospects for developing the global hydrogen market to the "Economy Today" publication.

Analysts at Wood Mackenzie claim that global hydrogen demand will reach 530 million tonnes per year by 2050. Today it is less than 1 million tons, so in 29 years the demand for hydrogen fuel should grow hundreds of times.

The development of the hydrogen market is limited by economic and technological difficulties, Aleksey Belogoryev said in a conversation with the Economics Segodnya FBA. Wood Mackenzie's forecast for the hydrogen market to grow hundreds of times over 29 years looks unrealistic - lobbying for hydrogen energy is clearly artificial.

“Hydrogen is already being produced enough, but it is in demand in industry, not in the energy sector. Most of the feedstock is referred to as “gray” hydrogen, which is the result of gas and coal processing, without any CO2 capture,” Belogoryev concludes.

The consumption and production of hydrogen in the global economy will continue to grow, but it is not yet clear at what pace.

“Many technological and transportation issues remain unresolved. It is not entirely clear how to transport hydrogen over long distances, even though it is regularly spoken about sea freight,” Belogoryev notes.

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