BAKU, Azerbaijan, September 23. According to the projects that have been announced to date, Europe is poised to contribute to nearly 30 percent of all the electrolytic hydrogen projects slated for production in 2030, Trend reports.
As the International Energy Agency (IEA) forecasts, leading the charge in Europe in electrolytic hydrogen projects are Spain, Denmark, Germany, and the Netherlands, collectively responsible for nearly 55 percent of the region's electrolytic hydrogen production.
The IEA reminded that, in 2022, the European Commission shifted its attention towards initiatives that enhance the availability of low-carbon and renewable hydrogen. They have also revealed plans for the inaugural auctions of the European Hydrogen Bank, scheduled for holding the first auctions in 2023.
Meanwhile, the agency also noted that, as of September 2023, the European hydrogen industry witnessed a notable drop in operations, especially in the chemical sector, as a direct consequence of the substantial increase in natural gas prices.
This situation, as projected by the IEA, led to multiple fertilizer plants scaling back their production or undergoing extended closures, resulting in an approximate 6 percent decrease in hydrogen consumption across the region.
