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Europe's green hydrogen: The construction of the Giga pipeline is within reach
According to a report by www.focus.de, Germany is planning to build a giga pipeline to transport green hydrogen from Portugal and Spain to Germany. So far there has been a chicken-and-egg problem, as the pipeline builders did not want to build infrastructure as long as there are no buyers for the hydrogen, and the municipal utilities and companies did not want to conclude contracts as long as there is no pipeline. The problem has now been solved as Open Grid Europe (OGE) has announced its participation in a consortium planning to build the hydrogen pipeline. The planned giga pipeline will serve as part of the European hydrogen network and could distribute around two million tonnes of hydrogen per year,...
Europe's green hydrogen: The construction of the Giga pipeline is within reach
According to a report by www.focus.de, Germany is planning to build a giga pipeline to transport green hydrogen from Portugal and Spain to Germany. So far there has been a chicken-and-egg problem, as the pipeline builders did not want to build infrastructure as long as there are no buyers for the hydrogen, and the municipal utilities and companies did not want to conclude contracts as long as there is no pipeline. The problem has now been solved as Open Grid Europe (OGE) has announced its participation in a consortium planning to build the hydrogen pipeline.
The planned giga pipeline will serve as part of the European hydrogen network and could distribute around two million tonnes of hydrogen per year, equivalent to around ten percent of total European demand. The pipeline is particularly essential for Germany, as the federal government currently assumes that Germany will consume up to 130 terawatt hours of hydrogen in 2030, of which 50 to 70 percent would have to be imported. The giga pipeline could cover a large part of this demand, meaning that less green hydrogen would have to be transported expensively and with great effort by sea.
Green hydrogen plays a crucial role in reducing CO2 emissions in industry. Sectors such as steel, chemicals, glass, paper, ceramics, foundries and galvanizing plants are striving to switch to climate-neutral hydrogen as quickly as possible because they are difficult to electrify and must become climate-neutral by 2050.
The Giga pipeline will therefore have a major impact on the green hydrogen market and the financial sector. The imported green hydrogen is expected to lead to increased demand and trade. Companies investing in the hydrogen sector could benefit from this development and potentially increase their profits. It could also open up new business opportunities for companies involved in the construction and operation of the pipeline.
Source: According to a report from www.focus.de, link,
Read the source article at www.focus.de