Category: Business News
(Bloomberg) — The global gas industry is in an existential race: either find a way to be part of the next generation of energy or risk getting supplanted by alternatives. BP Plc, Sinopec, Equinor ASA and Royal Dutch Shell Plc are among the producers looking to hydrogen to help secure demand that otherwise may falter as decarbonization speeds up. They want to utilize existing pipelines, storage tankers and fuel supply to make blue hydrogen, a process that uses natural gas but captures the carbon emissions and stores them. The straightest route to net-zero emissions uses hydrogen produced by renewable electricity — known in the industry as green hydrogen — but the blue variety is expected to be cheaper until at least 2030 as wind and solar power ramp up.