Following the closure of the COP28 climate summit, an approved deal marks a pivotal shift, compelling nations to transition away from fossil fuels to mitigate the severe impacts of climate change. Notably, significant strides have been made towards advancing green hydrogen development, marked by flagship initiatives aimed at expediting hydrogen commercialization and aligning efforts with the 1.5-degree target.
Among these initiatives are the Intergovernmental Declaration of Intent on Mutual Recognition of Certification Schemes for Hydrogen and Hydrogen Derivatives, which spans over 80% of the projected global market. Additionally, a public-private action statement on cross-border trade corridors has been unveiled in collaboration with the International Hydrogen Trade Forum.
Nadim Chaudhry, Chief Executive Officer at World Hydrogen Leaders, reflected on the magnitude of the task ahead, highlighted during various energy transition and climate finance events at COP. He emphasized the challenges faced by numerous projects in their 2-3 year journey toward achieving Financial Investment Decision (FID) and securing bankable offtake agreements crucial for early-stage green hydrogen supply. Chaudhry stressed the necessity for market understanding by project sponsors, underscoring the critical need for additional government support, such as CfDs and mandates, to minimize uncertainty for offtakers when entering long-term agreements.
With the conclusion of COP28, attention now turns to action. The forthcoming World Hydrogen MENA Congress, scheduled for February 26 – 29, 2024, in Dubai, emerges as a pivotal platform for engaging in pragmatic discussions to drive net-zero strategies in the MENA region and beyond.
The Congress, in collaboration with Dii Desert Energy and the MENA Hydrogen Alliance, promises a robust agenda featuring 100+ speakers across 5 content streams. Attendees can delve into the latest post-COP28 developments, addressing challenges and seizing opportunities in the hydrogen landscape, including:
- Crafting net-zero strategies across the region
- Securing finance and investment for projects
- Cultivating local demand and ensuring offtake agreements domestically and internationally
- Scaling up projects to giga-scale for export
- Formulating hydrogen storage and distribution strategies
Join over 500 senior decision makers from across the hydrogen value chain in Dubai for the World Hydrogen MENA Congress from February 26 to 29, 2024, and contribute to the discourse on shaping the future of hydrogen energy.
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