Hydrogen markets are likely to be more diverse and regionalized than oil and gas ones, which could lead to geopolitical changes in the world, according to the International Renewable Energy Agency (IRENA).
“Energy relations are likely to be regionalized, thereby transforming the geopolitical map. Renewables could be deployed in every country, with renewable electricity exported to neighboring countries via transmission cables,” IRENA said in a report called ‘Geopolitics of the Energy Transformation’.
Hydrogen’s markets may end up being more diverse than those of oil and gas, the report read.
While hydrogen could rely on existing gas infrastructure, regions that are not fully covered by such networks could still play a big role, the report pointed out, citing Africa and its “vast renewable potential.”
That potential could provide a solution to the demands of Africa’s increasing maritime trade, the report underlined.
The study highlighted the growing interest in hydrogen diplomacy, which could result in new bilateral deals, as many governments are exploring potential trade relations.
Hydrogen is considered clean fuel, which can be used for transportation, at homes, and in many other areas that currently employ more emission-heavy fuels.
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