Our Take: The Devil's in the Details

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Hydrogen has garnered a lot of attention from oil and gas majors this month, particularly in the Asia-Pacific, but we would caution against getting too excited about announcements that make little or no mention of project costs, offtakers and final investment decisions. We do see large-scale projects making sense in countries with cheap and abundant wind and solar potential, in the case of green hydrogen, or very cheap gas feedstock, in the case of blue hydrogen, but think long-distance international trade of the fuel will come up against significant challenges.

Hydrogen, Renewable Electricity , Low-Carbon Policy, M&A
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