Russia eyes boosting its global market share of hydrogen by 20% in a decade

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Russia eyes boosting its global market share of hydrogen by 20% in a decade

Russia is planning to increase its share in the global hydrogen market by 20% by 2030, and to increase annual exports of the fuel up to 33.4 million tons by 2050, Deputy Energy Minister Pavel Sorokin said on Monday.

“It is still difficult to provide exact numbers, but we believe that the exports can vary from one to two million tons in the worst-case scenario, while the brisk growth may lead to sales of up to seven million tons in 2035,” the official said.

According to Sorokin, the draft plan for developing Russia’s hydrogen energy has been approved, while the framework for the development of the country’s hydrogen industry is currently being worked out.
Also on rt.com Russia looks to become leader in hydrogen tech
Last year, the government included hydrogen energy in a broad energy strategy. According to the document, the nation is planning to export 200,000 tons of hydrogen by 2024.

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In December, Russian Deputy Prime Minister Alexander Novak said the Russian Energy Ministry signed a long-term agreement on cooperation in the sphere of hydrogen energy with German partners.

In September 2019, the Russian state-run corporation Rosatom and Japan’s Agency for Natural Resources and Energy signed an agreement to export hydrogen from Russia to Japan.

For more stories on economy & finance visit RT’s business section

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