The Middle East conflict is reviving one of hydrogen’s oldest strategic arguments: energy security. After years of weak offtake signals and slowing project momentum, executives at the World Hydrogen Summit said import-dependent economies are again viewing clean hydrogen as a hedge against fossil fuel supply disruption.
As in 2022, when Europe’s gas crisis drove major investments into the molecule, the World Hydrogen Summit in May heard executives across the sector saying there’s renewed interest from energy-importing countries.
Initially, this had been met with a degree of scepticism. The energy security case for hydrogen depends on fossil fuel prices remaining structurally high over decades. Within just a couple of years of the 2022 energy shocks, prices fell, and economic efficiency was the primary focus for governments and corporations.
In the early days of the crisis, this had been made clear by many analysts.
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