Oil majors see 2030 tipping point for clean hydrogen

Governments support initial expansion before new phase of competition kicks in, executives tell industry event

The clean hydrogen sector will evolve through two distinct phases of development through 2030 and beyond, according to oil and gas company executives. An initial ‘market-build’ phase will be heavily shaped by government incentives to support the scaling-up of supply and demand through to 2030 or 2035, followed by a second phase where projects will become exposed to far greater competition and scrutiny of returns on investment, they told Reuters’ ‘Oil and Gas Majors in Hydrogen’ event. “We see the (clean) hydrogen markets developing in different phases,” said Shirley Oliveira, vice president, hydrogen and CCUS advisory services at BP. “Between now and 2030 is really a sort of build-out of the