THE HYDROGEN OPTION | BUSINESS DEVELOPMENT


Exploring the hydrogen option


Global industry is in a hunt for low-carbon hydrogen to replace fossil fuels – whether that is as fuel, as chemical feedstock or as a medium of energy storage. The potential is huge. But does it present an opportunity for nuclear, and can nuclear make a unique offer to the new hydrogen industry?


THERE IS ALREADY A MARKET FOR HYDROGEN. In its 2023 Global Hydrogen Review the International Energy Agency (IEA) said global production was almost 95 Mt in 2022, 3% higher than in the previous year. Of that, 41 Mt was produced and used on-site in refineries. Around 32Mt was used for ammonia production, largely for the fertiliser industry. Nearly 16Mt was used for methanol production and the remainder, about 5Mt, in the iron and steel sector. The hydrogen was almost entirely produced using


unabated fossil fuels. IEA listed the main sources as natural gas (62%), coal production largely in China (21%) and as a by-product of processes in the petrochemical sector (16%).


That existing hydrogen industry must be decarbonised, while in addition low-carbon hydrogen must also be available for new roles. A key use for hydrogen is as energy storage, to help manage periods when electricity generation from renewables is low. In northern Europe this is seen as a key use of bulk hydrogen, fuelling gas turbines to meet power needs during extended winter ‘lulls’ with no wind. Other global regions also exhibit medium term renewable generation and seasonal fluctuations that can be smoothed out using hydrogen for power. But there are other potential markets in production of hydrogen-based fuels (such as synthetic hydrocarbons),


Below: Hydrogen could represent a significant market opportunity for nuclear power.


www.neimagazine.com | WNE Special Edition | 7


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52  |  Page 53  |  Page 54  |  Page 55  |  Page 56  |  Page 57  |  Page 58  |  Page 59  |  Page 60  |  Page 61  |  Page 62  |  Page 63  |  Page 64  |  Page 65  |  Page 66  |  Page 67  |  Page 68  |  Page 69  |  Page 70  |  Page 71  |  Page 72  |  Page 73  |  Page 74  |  Page 75  |  Page 76