Michael Joyce and Euan Strachan, at law firm Akin Gump
in Singapore, consider the impact of recent events on the hydrogen
economy and provide an update on some of the key
developments.
Hydrogen is gaining prominence as a key element in the future
global energy mix. In a recent report published by a coalition of
19 major oil and gas, automotive, fuel cell and hydrogen companies
(including Chevron, Shell, Engie, Hyundai, Microsoft, Toyota and
Daimler), hydrogen is considered to have the potential to generate
$140bn/y of revenue in the US alone by 2030, along with 700,000
jobs, rising to $750bn/y and 3.4mn jobs by 2050
According to the report (see www.ushydrogenstudy.org),
the US is positioned to establish itself as a leading player in the
hydrogen economy. It has the low-cost primary energy sources
required for the production of low carbon hydrogen, as well as an
abundance of low-cost natural gas and carbon storage capacity for
hydrogen produced via natural gas
