Russia aims for 20% share of 2030 hydrogen market

London (Quantum Commodity Intelligence) - Russia plans to take a 20% share of the global hydrogen market by 2030 and sell up to 33.4 million mt of the product by 2050, said Deputy Minister of Energy Pavel Sorokin.

A wider plan for the development of hydrogen as energy for the country has been completed and a strategy to develop its hydrogen industry will be finalised later this year, the Deputy Minister said, according to local media.

Last year hydrogen was a prominent part of Russia's Energy Strategy 2035 and in October it released a hydrogen roadmap to 2024 with development actions for carbon-free hydrogen, methane-hydrogen fuel and renewable and nuclear-based material.

"Our goal is to occupy 20% of the global hydrogen trading market by 2030. Now it is still quite difficult to estimate it in numbers, that is, we believe that it can be from 1 million to 2 million tons in the low scenario, up to 7 million tons in 2035 with more active rapid development," Mr Sorokin is quoted as saying by local media.

The country plans to capitalise on its favourable position with high potential demand centres in Europe and the Asia-Pacific regions and are looking into both repurposing existing fossil fuel infrastructure for transportation and novel methods.

In December, Russia announced a Russian-German roadmap for cooperation on hydrogen and with possible development of pilot supplies to Germany.