The Import of Hydrogen to Decarbonise Major Industrialised Economy

The EU has approved the first €13.7 billion of the €430 billion or $450 billion promised under its 2020 hydrogen strategy. The US Inflation Reduction Act provides a 10-year tax rebate per kilo of green hydrogen worth $3, which will soon be more than the production cost itself. Japan aims to commercialise an international hydrogen supply chain by producing hydrogen at low cost in countries blessed with bountiful renewable energy resources and marine transport infrastructure. Chancellor Scholz is promoting hydrogen imports not just as a way of decarbonising the German economy, but as a replacement for Russian gas.