BAKU, Azerbaijan, Jan.17
By Leman Zeynalova – Trend:
Hydrogen will cover up to 12 percent of global energy use by 2050, Trend reports with reference to the International Renewable Energy Agency (IRENA).
IRENA believes that hydrogen will change the geography of energy trade and regionalizing energy relations, hinting at the emergence of new centers of geopolitical influence built on the production and use of hydrogen, as traditional oil and gas trade declines.
The agency estimates trade and targeted investments in a market dominated by fossil fuels and currently valued at $174 billion is likely to boost economic competitiveness and influence the foreign policy landscape with bilateral deals diverging significantly from the hydrocarbon relationships of the 20th century.
“Hydrogen could prove to be a missing link to a climate-safe energy future”, Francesco La Camera, Director-General of IRENA said. “Hydrogen is clearly riding on the renewable energy revolution with green hydrogen emerging as a game changer for achieving climate neutrality without compromising industrial growth and social development. But hydrogen is not a new oil. And the transition is not a fuel replacement but a shift to a new system with political, technical, environmental, and economic disruptions.”
The geopolitics of clean hydrogen will likely play out in different stages, says IRENA.
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