Ali Izadi, CEO of Bloomberg NEF Asia-Pacific Research, gave a keynote speech at the ’13rd Hydrogen Market Insights (H3MI)’ held at EXCO (CEO Lee Sang-gil) in Daegu on the 2th and presented ‘World Hydrogen Market Trends’. and outlook’.
Ali Izadi said, “When analyzing the demand for hydrogen needed in terms of energy conversion, there will be a situation where supply exceeds demand after 2032.”
Ali Izadi said, “Most of the hydrogen is produced in Australia, and we are aiming to export it to Korea and Taiwan. Hydrogen produced in North America is also exported, but the balance between demand and supply is not right now. As explained earlier, the reality is that future hydrogen demand will be lower than supply.”
He continued, “Unlike liquid hydrogen, ammonia can be liquefied at -33 degrees Celsius. Its advantage is that it can store more hydrogen per unit volume, so it is easy to transport in bulk,” he said. “It will be more advantageous in terms of domestic production to import ammonia from Australia.”
From a long-term perspective, Ali Izadi, who emphasized that hydrogen is an alternative in crude oil refining, methanol and steel manufacturing, and hydrogen is the only answer, said, “Hydrogen will play a huge role in terms of NET-ZERO. The steel industry will need about 2050 million tonnes of hydrogen by 1,” he added.
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