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Russia should be leader of global hydrogen market — Deputy PM

According to Dmitry Chernyshenko, the goal of Russia is to capture 20% of the global hydrogen trading market by 2030

MOSCOW, November 26. /TASS/. Russia should become a leader on the international hydrogen market and has the potential to achieve this goal, Deputy Prime Minister Dmitry Chernyshenko said on Friday.

According to expert estimates, the share of hydrogen in the global energy balance can grow exponentially by 2050 and reach 24%, the official said. "Imagine, a quarter [of the entire market] of energy. It is critical for Russia to head this movement, to be the leader, rather than lag behind. There is a vast potential to do so. Certainly, it should be realized, otherwise it will be simply inexcusably painful to recall that," Chernyshenko noted.

The goal of Russia is to capture 20% of the global hydrogen trading market by 2030, taking into account the uncertainty regarding hydrogen market volumes, he noted.

"Depending on the pace of further development of the hydrogen energy sector, [the share of Russia] can range from 200,000 tonnes in 2024 to 12 mln tonnes in 2035 and reaching 50 mln tonnes in 2050," the official concluded.

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