The production cost of green hydrogen currently ranges from 200 to 400 US dollars per barrel of oil equivalent, making hydrogen completely uncompetitive compared to oil and gas, said Igor Sechin, CEO of Rosneft, Russia’s major oil and gas company, APA-Economics reports, citing TASS.
“Application of 'green' hydrogen fuel will cost around 10 trillion dollars by 2050. At the same time, its production cost varies from 200 to 400 dollars per barrel of oil equivalent, which makes hydrogen completely uncompetitive compared to oil,” he said.
Igor Sechin noted that the search for new energy sources has never stopped, and hydrogen use has long been highly anticipated.
“However, low-carbon hydrogen still accounts for less than 1% of the total volume produced,” the CEO added.
Follow us on Telegram
t.me/apanewsaz
Follow us on Instagram
Follow us on Facebook
Follow us on Twitter
