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Released October 18, 2021 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--Green hydrogen-based fuels and biofuels could cut up to 80% of carbon dioxide (CO2) emissions from international maritime shipping by 2050, according to a new report.
A Pathway to Decarbonise the Shipping Sector by 2050 by the International Renewable Energy Agency (IRENA) (Abu Dhabi) outlines a roadmap for decarbonizing global shipping in line with the 2015 Paris Agreement. IRENA expects green hydrogen-based fuels "to be the backbone" for doing so, making up 60% of the sector's energy mix by 2050. Green hydrogen is produced by using renewable energy, such as wind or solar power, to electrolyze water into its hydrogen and oxygen components; as a shipping fuel, it can be stored either as compressed gas or as a cryogenic liquid, according to the report.
Green hydrogen is used to produce products like methanol and ammonia, which are expected to play a key role in decarbonizing the sector. The report estimates that by mid-century, global shipping will require 46 million tons of green hydrogen, of which 73% will be needed to produce ammonia, 17% for methanol, and 10% to be used directly as liquid hydrogen.
For more information, see Industrial Info's October 9, 2020, article - Green Hydrogen Projects Grow in Popularity, but U.S. Yet to Jump on Bandwagon.
The report notes that in the short-term, renewable fuels like advanced biofuels are a viable option for the shipping industry. Advanced biofuels are derived from a variety of non-edible feedstocks, including agricultural waste such as stems and leaves, and industry waste such as woodchips and pulp from fruit pressing. However, shipping will face competition for adequate feedstocks from other sectors, including automobiles and aviation.
Industrial Info is tracking nearly $73 billion worth of active "Power-to-X" projects in the Chemical Processing Industry worldwide--including $34 billion in green hydrogen projects and $9.6 billion in green ammonia projects--that have a medium or high probability of moving forward as planned. Power-to-X refers to a variety of processes aimed at converting electricity into products that replace or supplement fossil fuels.
Medium-probability projects are assessed as having a 70%-to-80% chance of moving forward as planned. High-probability projects have an 81%-to-99% chance.
Australia leads the way with $21 billion in projects, including renewable energy developer Austrom Hydrogen's (Queensland, Australia) combined solar and battery farm installation at its Pacific Solar Hydrogen Plant in Callide, Queensland, near the Port of Gladstone, which will produce 200,000 tons per year of green hydrogen from up to 3,600 megawatts (MW) of electricity. The facility's ultimate goal is to export hydrogen to Japan, South Korea and other countries. Construction is planned to kick off by second-quarter 2023, with completion by November 2025. Environmental impact studies are underway. Subscribers can learn more from Industrial Info's project report.
Oman's state-run OQ (Muscat), in partnership with InterContinental Energy (South Perth, Australia) and Kuwaiti government-backed energy developer EnerTech, is planning a $9 billion green hydrogen plant in Duqm, Oman, which will use a 25,000-MW electrolyzer unit to produce the gas from wind and solar power; as well as a $6 billion green ammonia unit addition to produce 10,000,000 metric tons per year. Both projects are expected to kick off in early 2028, with completion in June 2031. For more information, see Industrial Info's detailed reports on the green hydrogen and green ammonia projects.
Brazil accounts for about $15 billion in Power-to-X projects. Fortescue Future Industries, a subsidiary of iron-ore company Fortescue Metals Group Limited (Perth, Western Australia), is developing the $6 billion Porto do Pecem Green Hydrogen Plant in Ceara, Brazil. Construction is expected to kick off in April 2023, and completion is expected in March 2025. For more information, see Industrial Info's project report.
Another measure the shipping sector can take to reach zero emissions is improving vessels' energy efficiency. According to IRENA, the development of new vessel designs and engines needs to occur between 2025 and 2030, considering the average age of the existing vessel fleet and the lifetime of large- and very-large vessels.
The world's first hydrogen-powered commercial cargo ship is expected to begin commercial operations later this year, along Paris' Seine River, as part of the European Union's Flagships project. The inland vessel will operate on compressed hydrogen, and is owned by Compagnie Fluvial de Transport (CFT), a subsidiary of the Sogestran Group (Le Havre, France). "Ships powered by renewable hydrogen will make a substantial contribution to reducing emissions from shipping and improving air quality in cities and other densely populated areas," said Flagships Project Coordinator Jyrki Mikkola from VTT Technical Research Centre of Finland.
Industrial Info is tracking almost $16 billion in shipbuilding projects worldwide. Subscribers can click here for a full list of shipbuilding projects worldwide.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn.
A Pathway to Decarbonise the Shipping Sector by 2050 by the International Renewable Energy Agency (IRENA) (Abu Dhabi) outlines a roadmap for decarbonizing global shipping in line with the 2015 Paris Agreement. IRENA expects green hydrogen-based fuels "to be the backbone" for doing so, making up 60% of the sector's energy mix by 2050. Green hydrogen is produced by using renewable energy, such as wind or solar power, to electrolyze water into its hydrogen and oxygen components; as a shipping fuel, it can be stored either as compressed gas or as a cryogenic liquid, according to the report.
Green hydrogen is used to produce products like methanol and ammonia, which are expected to play a key role in decarbonizing the sector. The report estimates that by mid-century, global shipping will require 46 million tons of green hydrogen, of which 73% will be needed to produce ammonia, 17% for methanol, and 10% to be used directly as liquid hydrogen.
For more information, see Industrial Info's October 9, 2020, article - Green Hydrogen Projects Grow in Popularity, but U.S. Yet to Jump on Bandwagon.
The report notes that in the short-term, renewable fuels like advanced biofuels are a viable option for the shipping industry. Advanced biofuels are derived from a variety of non-edible feedstocks, including agricultural waste such as stems and leaves, and industry waste such as woodchips and pulp from fruit pressing. However, shipping will face competition for adequate feedstocks from other sectors, including automobiles and aviation.
Industrial Info is tracking nearly $73 billion worth of active "Power-to-X" projects in the Chemical Processing Industry worldwide--including $34 billion in green hydrogen projects and $9.6 billion in green ammonia projects--that have a medium or high probability of moving forward as planned. Power-to-X refers to a variety of processes aimed at converting electricity into products that replace or supplement fossil fuels.
Medium-probability projects are assessed as having a 70%-to-80% chance of moving forward as planned. High-probability projects have an 81%-to-99% chance.
Australia leads the way with $21 billion in projects, including renewable energy developer Austrom Hydrogen's (Queensland, Australia) combined solar and battery farm installation at its Pacific Solar Hydrogen Plant in Callide, Queensland, near the Port of Gladstone, which will produce 200,000 tons per year of green hydrogen from up to 3,600 megawatts (MW) of electricity. The facility's ultimate goal is to export hydrogen to Japan, South Korea and other countries. Construction is planned to kick off by second-quarter 2023, with completion by November 2025. Environmental impact studies are underway. Subscribers can learn more from Industrial Info's project report.
Oman's state-run OQ (Muscat), in partnership with InterContinental Energy (South Perth, Australia) and Kuwaiti government-backed energy developer EnerTech, is planning a $9 billion green hydrogen plant in Duqm, Oman, which will use a 25,000-MW electrolyzer unit to produce the gas from wind and solar power; as well as a $6 billion green ammonia unit addition to produce 10,000,000 metric tons per year. Both projects are expected to kick off in early 2028, with completion in June 2031. For more information, see Industrial Info's detailed reports on the green hydrogen and green ammonia projects.
Brazil accounts for about $15 billion in Power-to-X projects. Fortescue Future Industries, a subsidiary of iron-ore company Fortescue Metals Group Limited (Perth, Western Australia), is developing the $6 billion Porto do Pecem Green Hydrogen Plant in Ceara, Brazil. Construction is expected to kick off in April 2023, and completion is expected in March 2025. For more information, see Industrial Info's project report.
Another measure the shipping sector can take to reach zero emissions is improving vessels' energy efficiency. According to IRENA, the development of new vessel designs and engines needs to occur between 2025 and 2030, considering the average age of the existing vessel fleet and the lifetime of large- and very-large vessels.
The world's first hydrogen-powered commercial cargo ship is expected to begin commercial operations later this year, along Paris' Seine River, as part of the European Union's Flagships project. The inland vessel will operate on compressed hydrogen, and is owned by Compagnie Fluvial de Transport (CFT), a subsidiary of the Sogestran Group (Le Havre, France). "Ships powered by renewable hydrogen will make a substantial contribution to reducing emissions from shipping and improving air quality in cities and other densely populated areas," said Flagships Project Coordinator Jyrki Mikkola from VTT Technical Research Centre of Finland.
Industrial Info is tracking almost $16 billion in shipbuilding projects worldwide. Subscribers can click here for a full list of shipbuilding projects worldwide.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn.
