Hydrogen has surged up the priority list of many oil and gas organizations, taking a primary position in the sector’s decarbonization efforts, according to a new DNV GL report published Thursday.
The Heading for Hydrogen report drew on a survey of more than 1,000 senior oil and gas professionals and in-depth interviews with industry executives.
According to the survey, over half, at 52%, of senior oil and gas professionals expect hydrogen to be a significant part of the energy mix by 2030.
Specifically, 56% of respondents from Asia-Pacific, 54% of respondents from the Middle East & North Africa, and 53% of respondents from Europe, 40% of respondents from North America and 37% from Latin America agree that hydrogen will be significant within 10 years.
The survey also discovered that a fifth or 21% of industry leaders say their companies have already entered the hydrogen market.
'The proportion intending to invest in the hydrogen economy doubled from 20% to 42% in the year leading up to the coronavirus-induced oil price crash,' DNV GL said.
“Hydrogen is in the spotlight as the energy transition moves at pace – and rightly so. But to realize its potential, both governments and industry will need to make bold decisions,” Liv A. Hovem, CEO of DNV GL – Oil & Gas, was quoted as saying.
However, Hovem said the challenge now is not in the ambition but in 'changing the timeline from hydrogen on the horizon, to hydrogen in homes, businesses, and transport systems.'
“To progress to the stage where societies and industry can enjoy the benefits of hydrogen at scale, all stakeholders will need immediate focus on proving safety, enabling infrastructure, scaling carbon capture and storage technology and incentivizing value chains through policy,' Hovem added.
By Ebru Sengul Cevrioglu