- With the goal of helping to guarantee national energy security and in response to a downward trend in oil and gas extraction output, the Vietnam Oil and Gas Group (PetroVietnam) has identified the research and assessment of its opportunities in developing the hydrogen industry, including producing “green” hydrogen and exploring natural hydrogen sources, as a crucial task.
Hanoi (VNA) – With the goal of helping to guarantee national energy security and in response to a downward trend in oil and gas extraction output, the Vietnam Oil and Gas Group (PetroVietnam) has identified the research and assessment of its opportunities in developing the hydrogen industry, including producing “green” hydrogen and exploring natural hydrogen sources, as a crucial task.
Energy transition is taking place strongly around the world. Many countries and energy and petroleum enterprises have been taking actions to build and implement hydrogen development strategies, aiming to become the leading players in the hydrogen industry in the future.
PetroVietnam recently held a workshop looking into development trends of the hydrogen industry and prospects for the group.
Participants looked into the PetroVietnam committee for strategic affairs’ report on development trends of the global hydrogen industry, as well as advantages, difficulties, and development chances for the firm in the hydrogen energy sector, including “green” hydrogen.
They shared the view that hydrogen is not only a source of fuel but also an important source of material for sectors in the economy such as industrial production, transport, civil use, energy production and storage. It also serves as a material and fuel for production and business activities of PetroVietnam.
In the future, “green” hydrogen will gradually replace sources of fossil fuel and material to form a hydrogen economy in the near future, they noted.
Apart from hydrogen created from chemical synthesis processes in industry, the gas can also be found in nature, underground, in some places in the world. The exploration and extraction of natural hydrogen have attracted great attention from scientists and businesses recently.
In Vietnam, there are many areas where natural hydrogen is possibly available such as those with frequent volcanic activity and sedimentary basins related to coal formation.
Addressing the workshop, Chairman of the PetroVietnam Members’ Council Hoang Quoc Vuong said the hydrogen industry in particular and the hydrogen economy in general in developing rapidly around the globe. Many countries are preparing for the formation of a hydrogen economy while energy, oil and gas enterprises are making moves to develop “green” hydrogen from renewable energy to prepare for commercial production after 2030.
Although there remain a number of challenges to the “green” hydrogen sector, especially high production costs, the recent rapid growth of renewable energy and the perfection of technology will help speed up the development of “green” hydrogen, making commercial-scale production possible from 2030, he pointed out.
To make preparations to access development trends of the hydrogen industry when possible and report hydrogen development prospects in Vietnam to specialised managerial agencies, Vuong said the group needs to quickly take part in the drafting of strategies and policies to create a legal framework necessary for promoting hydrogen energy. It should coordinate with research institutes and relevant ministries and sectors to facilitate the industry.
In its long-term scientific and technological research programme, PetroVietnam should focus on researching, applying, and accessing new technologies in hydrogen production, transportation, storage, and use so as to stay ready to participate in hydrogen production and trading when there are sufficient conditions.
Besides, it is also necessary to study development trends of “green” hydrogen on the basis of the specific features and existing advantages of Vietnam’s oil and gas sector, the chairman said, elaborating that the group needs to identify if there are natural hydrogen wells and seams, and develop hydrogen value chains, particularly renewable energy – hydrogen – fuel cell/electricity production and renewable energy – hydrogen – petrochemical products.
Basing on its experience in maritime structure design and construction, it should also pay due attention to promoting offshore wind power projects to create a prerequisite for developing hydrogen energy. A detailed implementation plan needs to be devised to ensure that PetroVietnam can produce 1,400 MW of offshore wind power by 2030, the firm’s leader added. VNA