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Hydrogen is an increasingly important piece in the decarbonisation puzzle. Industrial players are seeking ways to take carbon emissions out of their hydrogen production processes, while green hydrogen producers see the gas as a viable outright alternative to hydrocarbons.
Future production routes range from methane reformation with carbon capture to pyrolysis, waste gasification and electrolysis, powered by renewable energy or fossil fuels. Combinations of processes and energy being used to produce hydrogen presents existing users of industrial heat and key chemicals a challenging landscape to navigate.
The Argus Hydrogen and Future Fuels service has been designed to provide industrial power, chemicals and energy users with crucial information to help them make well informed decisions. It covers the upstream for projects, midstream for transportation and storage, and downstream for ammonia and methanol. It also covers the latest technological developments and policy news on hydrogen from across the globe.
Browse the latest market moving news on the global hydrogen industry.
New Delhi, 24 June (Argus) — Sweden's Stegra has closed a €1.4bn ($1.6bn) financing round to fund construction of its low-carbon steel plant in Boden, Sweden, it said today. This completes a funding package that was announced in principle in April. The funding was led by a consortium headed by Wallenberg Investments and included Singapore's Temasek, Sweden's Bolero and SEB-Stiftelsen, as well as IMAS. Existing shareholders private equity firm Altor, hydrogen-focused investment manager Hy24 and climate investment platform Just Climate also took part. A group of its second-lien lenders, led by AIP Management, joined the round as equity investors, Stegra said. The company has also received approval from its lenders to maintain access to debt facilities put in place under its 2024 financing package. The additional capital strengthens Stegra's financial position as it continues construction of its steel plant in Boden, Sweden, it said. But the project timeline is "under review", Stegra said. The firm previously said that it was targeting to start operations in 2027. The plant is set to produce 2.5mn t/yr of low-carbon steel in its first phase, potentially doubling that output later on. The first phase will use over 700MW of electrolysis capacity, provided by German technology firm Thyssenkrupp Nucera. By Anmol Choubey Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
London, 19 June (Argus) — The global electrolyser manufacturing industry is entering a consolidation phase as overcapacity, weak demand and financial strain force a shake-out, Paris-based energy watchdog the IEA said. Global electrolyser manufacturing capacity rose to nearly 58 GW/yr at the end of 2025 from 46 GW/yr a year earlier , the IEA estimated in its Global Hydrogen Review 2026 . But actual electrolyser output in 2025 was less than 5GW, the IEA said. This means that the 58 GW/yr had a utilisation rate of around 9pc in 2025, similar to the 10pc the IEA estimated in last year's review. Early signs of consolidation include the purchase of assets from bankrupt firms and firms reassessing strategies , the IEA said. Significant manufacturing overcapacity is expected to persist towards 2030, the watchdog said. It expects an average of 9 GW/yr of deployments based on projects that have reached a final investment decision or show strong potential to be realised. Manufacturing capacity could climb to nearly 95 GW/yr by 2030 if announced expansions go ahead, but that is about 90 GW/yr lower than the IEA projected a year earlier. Committed capacity — covering factories under construction or past FID — totals 64 GW/yr. Tight financial liquidity has become a growing concern for electrolyser makers, as many report widening losses because of revenues lagging upfront spending on building factories, the IEA said. Firms are also reassessing their business strategies, showcased by US engine maker Cummins halting electrolyser sales after filling existing orders, the watchdog said. Firms with diversified income are better placed to ride out the downturn, the IEA said. Of the 58 GW/yr of capacity, about 64pc of capacity sits with large, broad-based companies, while the rest belongs to specialised firms more exposed to market swings. The strain on electrolyser firms also poses a risk to reducing the cost of renewable hydrogen production, as firms leaving the sector could weaken the sector's innovation pipeline, the IEA said. China has 60pc of global manufacturing capacity, ahead of Europe at 20pc and the US at 10pc. Installing a Chinese-made electrolyser in China cost $500-1,100/kW in 2025, against $1,900-2,500/kW for systems made outside China. The gap narrows sharply for Chinese kit installed abroad, where engineering, procurement and construction and contingency costs make up much of the total, the watchdog said. Costs outside China could fall to $1,500-1,900/kW by 2030 on FID-backed and strong-potential projects, approaching China's 2025 range, the IEA said. But that hinges on more orders to lift factory use, and projects are still struggling to secure FIDs. By Chingis Idrissov Electrolyser manufacturing capacity by region GW/yr Announced manufacturing capacity by 2030 % Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
London, 9 June (Argus) — BP confirmed today that it will reorganise its business into two segments — Upstream and Downstream — from 1 July. The Upstream segment will combine BP's oil and gas regions, covering exploration, development and production. It will also include upstream joint ventures, alongside the company's renewable natural gas and carbon capture and storage businesses. The Downstream segment will include refining, terminals and pipelines, as well as BP's mobility and convenience retail operations. It will also cover biofuels, aviation and hydrogen, and include the company's remaining 35pc stake in its Castrol lubricants business. BP's Supply, Trading & Shipping function will operate across both segments, supporting "delivery and value creation across the integrated system", the company said. Its renewable power businesses — including solar and offshore wind, where BP is pursuing an asset-light model — will sit within the Technology function. The reorganisation was trailed shortly after new chief executive Meg O'Neill joined the company in April . Focusing BP around two distinct segments "is an important step in accelerating delivery" and will "reduce complexity and strengthen execution", O'Neill said today. The move brings BP's structure closer to that of US peers Chevron and ExxonMobil. O'Neill previously spent more than two decades at ExxonMobil. BP is currently organised into three main segments — Gas & Low Carbon Energy, Oil Production & Operations, and Customers & Products — alongside an Other Businesses and Corporate segment. The company said the new structure will clarify accountabilities and enable "faster, more effective" decision-making. O'Neill has previously said that moving BP's refining into a dedicated downstream segment, from the largely upstream Production & Operations business, would allow leadership to better "maximise value from the front of the refinery all the way to the end-customer". BP said Gordon Birrell, currently executive vice-president of Production & Operations, will lead the new Upstream segment. Customers & Products head Richard Harding will serve as interim head of Downstream until a permanent executive vice-president is appointed. By Jon Mainwaring Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
London, 9 June (Argus) — Irish developer Net Zero Energy (NZE) plans to build a 600MW long-duration energy storage (LDES) facility that will convert surplus renewable power into hydrogen, store it underground, and dispatch electricity during periods of peak demand. The Rathrush Green Energy Park, in Carlow county, would cost around €2bn ($2.31bn) to develop. The plant is designed to generate up to 600MW for 70 hours — enough to cover 10pc of Ireland's peak electricity demand , NZE said. The LDES site will use surplus wind and solar electricity to power electrolysers to produce renewable hydrogen, which will be compressed and stored in lined rock caverns. Gas turbines will then burn the hydrogen to generate power for grid dispatch. The plant will connect to the grid through a 220kV substation, and draw process water from a nearby wastewater treatment facility. NZE is running a public consultation and plans to file a planning application by the end of 2026. NZE previously developed a 4.6MW battery energy storage system (BESS) and assisted in permitting and grid connection for the Kelwin 26MW BESS site . Separately, Ireland's department of climate, energy and environment has opened a call for evidence on geological hydrogen storage to inform future regulatory frameworks for underground storage. The consultation, which covers salt caverns, depleted gas fields, aquifers and lined rock caverns, closes on 17 July. By Chingis Idrissov Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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Real time access to trusted cost benchmarks, critical market data and analytics, in-depth analysis, and the latest market news. Argus Hydrogen and Future Fuels service is relied upon by intensive users of energy, governments, banks, regulators, exchanges and many other organisations as source of reliable and unique insights into the global hydrogen sector.
