Global hydrogen trade to develop in four phases
Thousands of miles of pipelines and more than 1,100 dedicated ships will be needed by 2050, says McKinsey report
Global trade in low-carbon hydrogen will develop across four distinct phases, ending up with a fully mature traded market by 2050, according to the Global Hydrogen Flows report carried out by consultancy McKinsey for industry group the Hydrogen Council. Trade in pure hydrogen is expected to remain regional and be shipped via a carrier only if there is no local demand—although some trade does develop as costs come down close to 2050. However, hydrogen derivatives—including ammonia for end-use, methanol, synthetic kerosene and direct reduced iron—will increasingly be shipped around the world, given relatively low transport costs. 400mn t/yr – Volume of hydrogen traded by 2050 During th
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