At the 14th Clean Energy Ministerial (CEM14) meeting in India, a multitude of countries – consisting of Australia, Brazil, Canada, Chile, Germany, Japan, Saudi Arabia, South Korea, the Netherlands, the UAE, UK, US, Uruguay and the European Commission – have established the International Hydrogen Trade Forum (IHTF). The IHTF aims to foster dialogues between governments on the ever-growing international hydrogen market.
Countries involved have outlined the importance of establishing hydrogen supply trade corridors, with the target of transporting large volumes of the energy carrier. In 2022, a report carried out by the Hydrogen Council estimated that of the 660 million tons of hydrogen needed to achieve global Net Zero by 2050, a staggering 400 million tons of the total amount would be transported over a substantial distance.
Through the IHTF, countries seek to share knowledge, experiences and best practices on hydrogen activities, while also promoting research, innovation and demonstration programs. Furthermore, the forum also expressed that it aims to facilitate dialogue between hydrogen producers and consumers.
The IHTF will be co-chaired by the Netherlands and the UAE, two countries that are expected to be major importers and exporters.
“The mission of the IHTF is well aligned with our National Hydrogen Strategy and the key priorities for COP28 Presidency, including unlocking cross-border hydrogen trade corridors and identifying priority actions for governments and industry to advance from announcements to implementation on the ground,” said Suhail Al Mazrouei, Minister of Energy and Infrastructure, UAE.
Rob Jetten, Dutch Minister for Climate and Energy Policy, added, “Effective cooperation between governments and companies is essential to get the trade corridors up and running. It is an honor to be initiating this forum together with the UAE providing a platform for such an important dialogue between future hydrogen exporting and importing countries.”