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これからの製造ルートは、炭素回収を伴うメタン改質から、再生可能エネルギーや化石燃料を動力源とする熱分解、廃棄物ガス化、電気分解まで多岐にわたります。水素を製造するために使用されるプロセスとエネルギーの組み合わせは、工業用熱と主要化学物質の既存ユーザーに、困難な状況を突きつけています。
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世界の水素業界に関する最新の市場動向ニュース
Asia most primed for clean ammonia investment: Vopak
Asia most primed for clean ammonia investment: Vopak
London, 5 January (Argus) — Argus spoke to Vopak executive vice president for global business development Maarten Smeets at the Argus Clean Ammonia conference in Rotterdam. Edited highlights follow… Vopak has announced its participation in multiple low-carbon ammonia projects. Which projects are currently at the top of its priority list? Our most advanced project is in Antwerp, where we are in the front end engineering design phase. We are preparing to build building an import facility there. A final investment decision is planned for the second half of 2026. We have a fantastic footprint in India with Aegis Vopak Terminals — that project is under construction. The environment in India is business friendly and it's an important import market for the fertilizer business. But when green ammonia becomes available domestically and if product flows reverse, we'll be well positioned. So we're fairly bullish on that project. If you then look even further to the east, in Japan we are co-operating with IHI . There we are waiting for the outcome of the government's contract for difference scheme before things move ahead. So we're putting our pawns everywhere on the board. If you look at where we believe most of the capital will land, it will probably land a bit further to the east. China is also coming up with the next five-year plan and it will probably go more green. If China and India bring those green molecules, they will find a way to the world market. In both of these countries we have a pretty ok footprint. In China we have seven terminals, in India we have 13. Here, we are pretty well positioned to capture some of these flows, which will go to OECD countries that can afford it, like Japan. In Europe, there is a bit of uncertainty on the regulatory part. But there is another dimension, which is that due to the high cost environment, imports of grey ammonia could increase. That will build with blue, and if green happens — that will be really fantastic. The ARA [Amsterdam-Rotterdam-Antwerp] region remains a very strong foothold for us. What led to the pause of the Houston Ship Channel low-carbon ammonia plant in collaboration with LSB, Air Liquide and Inpex? Could it be resumed at a later date? Definitely. We have a very nice footprint in that area. We are keen to keep on developing it. We were one of the front-runners at that stage in time. Sometimes if you storm out of the gate first, you would be the first one to get burned. It's nothing to be ashamed of and actually we are very proud of all the partners that we are working with. Unfortunately, one of the parties backing [the project] in the end took a decision to not participate in the auctions, removing some of the basis needed to underpin the project. We are very happy to develop projects, but need a line of sight on offtake. We continue to look for export projects on the Gulf Coast with other parties. It's a good place to be. It's still an area that is favourable to develop some of these projects. We understand the ship to shore interface very well. We understand how to develop ammonia infrastructure. Now it is about finding the right combination of the right piece of land and the right customer that underpins it. How do you see the ammonia market developing in comparison to the other alternative fuels you handle? We see that ammonia is still one of the best carriers of hydrogen, if we want to go to a hydrogen economy. But it is also fair to say that we are placing our bets on multiple products. We are very large in the three large bunker hubs in the world: Rotterdam, Singapore and Fujairah. In Rotterdam, we have started with LNG bunkering, where we've seen healthy growth. In Singapore, we have done trials for methanol bunkering. We have done trials for ammonia bunkering. We will be able to bunker methanol, no problem. We have been storing methanol for over 50-60 years across the globe. We believe there is a bit of work to be done on the ammonia side to make people more comfortable with it. And it is questionable in some of those global leading ports. Can you envision a world in 20-30 years where there are 50 or so ammonia bunker vessels sailing around the port of Singapore? A fuel oil spill is nasty for the environment, but ammonia spills will have a way more severe impact. So probably some of the regulations around it might be a bit more stringent. Maybe it needs hard piping instead of flexible hoses, those kinds of things. There are workarounds. But are we excited about the opportunity? Very much so. It requires more infrastructure, so that's what we're there for. And we are pretty agnostic whether it's LNG, whether it's methanol, whether it's biofuels or whether it's all of them. And that's also fair to say — it will probably be a mix of all of them. Can you provide an update on your projects in Rotterdam, Japan and Oman? In Rotterdam, we are developing many of these projects together with Gasunie. We remain very committed to doing so. We're studying the landscape. We are looking to find the right location within the port and we're pretty close. In Japan, the outcomes of the contracts for difference scheme are starting to be announced, so once that happens we hope we can continue to move pretty fast to the next stage. IHI is looking at it from the power side, which means there is natural offtake there. But in the end, it requires government support to kick in. Once the projects are awarded, we expect we will be able move ahead. So we are probably targeting an end of 2030 timeline to be up and running. We have just started the journey in Oman really. Hopefully, we can build infrastructure that supports the energy transition. We have people on the ground there now — two or three people. Will the first project be a green ammonia export project? Most likely not. But is that on the cards? Most definitely. By Lizzy Lancaster Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Viewpoint: Reticent offtakers delay US H2 investments
Viewpoint: Reticent offtakers delay US H2 investments
Houston, 31 December (Argus) — It had become a maxim among US hydrogen developers: Give us regulatory certainty and we will build the projects. The federal guidelines eventually came, but buyers remained conspicuously absent, pushing long-awaited financial investment decisions (FID) into 2026, or even beyond. Few companies were more emblematic of the sector's challenges than energy titan ExxonMobil. As President Donald Trump's rollback of clean energy incentives threatened to upend 45V, the hydrogen production tax, ExxonMobil chief executive Darren Woods advocated for the incentive during company earnings calls, noting government support was necessary to kickstart the sector before market forces eventually allowed it to stand on its own. As it became clear that 45V would survive, albeit in a truncated form, Woods' message shifted, warning that the company was pushing a decision on its massive Baytown, Texas, low-carbon hydrogen and ammonia project until the end of 2025 to see if offtakers materialized. Despite tentative agreements with Japan's Marubeni and European trading house Trammo , ExxonMobil suspended the project indefinitely, a potential deathblow given that projects must break ground by the end of 2027 to qualify for 45V. "While we're convinced that low-carbon hydrogen will be required for the world to achieve net zero… the markets and customer base are developing slowly," said Woods at the company's corporate plan update in early December. "We're inventorying our work on this project until the market catches up." Other projects in Texas that were supposed to have reached FID in 2025 and remain undecided include HIF Global's e-fuels project and Avina's blue and green hydrogen project near the city of Corpus Christi. StormFisher's green hydrogen project in north Texas remains undecided and Plug Power suspended a renewable hydrogen facility in central Texas. Meanwhile, most of these companies are pursuing projects in Canada, South America , and Europe, where the regulatory environment is seen as more favorable. While the hype that characterized the sector when the administration of former President Joe Biden first conceived of 45V has dissipated, some projects dedicated to low-carbon ammonia and other derivatives appear to be moving forward and should come to a final decision in the next 12 months. Danish electrolyzer manufacturer Topsoe continues to see opportunity in the US, though the view is more muddled than before. The company, which has supply agreements with First Ammonia and Synergen Green Energy , among others, expects some very advanced projects to reach FID in 2026, but its perspective of the five-to-10-year pipeline has been significantly reduced, Kim Hedegaard, chief executive for Power-to-X at Topsoe, told Argus in an interview. "There are projects that we believe have a fairly high likelihood to go to FID within a 12-month time period," said Hedegaard. "Then there are the projects that could be interesting within a five-to-10 year period and then those we see as strategic partnerships. Heading into 2026, the size of the two latter boxes has decreased significantly with the change in landscape in the US." The projects that they expect to move forward, he said, are characterized by "visionary leadership who understand these are the next steps in a larger transition". Both First Ammonia and Synergen plan to make green ammonia for export from the Texas Gulf coast. The difference between those who move forward with Gulf Coast export-based projects and those that are stalled may come down to portfolio allocation. Both Synergen and First Ammonia are focused on projects in the US while others pondering Texas projects are evaluating those plans against a more diversified portfolio across the Americas where they made progress while the US was mired in a protracted legislative fight over 45V. "Despite the fact that we see a slowdown in the US, we still see interest," said Hedegaard. "Slowdown doesn't mean a standstill." By Jasmina Kelemen Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Viewpoint: Latam looks at domestic markets to spur H2
Viewpoint: Latam looks at domestic markets to spur H2
London, 30 December (Argus) — Latin American countries are assessing ways to promote domestic use of clean hydrogen as international demand fails to materialise. In line with the global mood, Latin America's hydrogen sector saw modest progress in 2025. But the past year has not brought the long-awaited first final investment decisions (FID), with lack of international demand one of the main culprits for sluggish project development. While Latin America still has export ambitions, the realisation that demand in Europe and east Asia will not materialise at the scale at which it was once anticipated has prompted countries to re-evaluate their strategies and shift focus towards fostering a domestic market. Some governments are now giving hydrogen a more defined role in their decarbonisation plans. Chile launched a $2.8bn tax credit scheme for domestic consumption of renewable hydrogen and derivatives in August, targeting the maritime and mining sectors. Applications for the first tranche of the tax benefits, with a budget of $700mn, are expected to open in early 2026. Although projects targeting exports will not benefit directly, the initiative is likely to support the industry as a whole. The programme will help reduce project risk and enable economies of scale, developers said. Brazil is also targeting hydrogen for domestic uses. The government is yet to finalise the rules of its own $3bn tax credit scheme, but the programme's law established that the benefit should prioritise projects with higher potential for national decarbonisation. Brazil would do well to take a leaf out of Chile's book — Brazil's large agricultural sector relies heavily on fertiliser imports and could offer significant demand for locally produced green fertilisers. Colombia recently unveiled a comprehensive action plan with initiatives to be implemented by 2030. The country's hydrogen strategy, first launched in 2021, needed to be revised to adapt to the current market realities, the government said. The new plan pays special attention to fostering a domestic market through potential introduction of mandates for use of renewable hydrogen for production of green fertilisers and in the mobility sector. It might be still too early to say to what extent these policy changes will help project development, and it is unclear whether other Latin American countries will follow. But fostering a domestic market, even a limited one, has been one of the most effective ways to launch the first projects. One of the region's most advanced projects, Atome's green fertiliser project in Paraguay has successfully secured several financing deals and 100pc offtake by targeting demand in the Mercosur countries. Milestones Some of these countries could reach important project milestones in 2026 as they start to clear obstacles such as permitting and infrastructure bottlenecks. Brazil's energy ministry recently approved two tenders in 2026 to expand the power grid, a move that could help address industry concerns about infrastructure . Chile's recent environmental approval of projects in Antofagasta and Magallanes will probably accelerate the development of key projects. Clearing permitting is one of the most lengthy stages of project development, companies have often said. Some firms aim to take FID in 2026, including a few of Brazil's flagship projects . But developers have often pushed back project timelines, and securing long-term offtake remains the main challenge for projects worldwide. Although the market is developing slowly, long-term prospects for competitive renewable hydrogen production in the region remain promising, according to industry participants. US electrolyser manufacturer Electric Hydrogen recently expanded its operations into Brazil, its first entry into Latin America. The region offers "one of the most compelling economic cases" for large-scale hydrogen and derivatives projects, the firm said. Latin America's close relationship to China could also benefit the local industry. Chinese developer Envision could leverage its expertise as the operator of one of the largest renewable ammonia projects globally to its planned project in Brazil's Pecem complex . By Pamela Machado Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Viewpoint: Critical year ahead for India's H2 plans
Viewpoint: Critical year ahead for India's H2 plans
Mumbai, 29 December (Argus) — India's renewable hydrogen sector enters 2026 with rising momentum but also increased pressure to convert its ambitions into bankable projects. This is shaping up to be a decisive year during which it must close regulatory gaps, clarify subsidy rules and accelerate infrastructure upgrades to avoid further delays to production targets. New Delhi has concluded several subsidy tenders, underlining its ambition to position India as a global hub for renewable hydrogen and derivatives. But progress on the ground remains slow. Officials now concede that the original target of producing 5mn t/yr of renewable hydrogen by 2030, first set in 2022, is unrealistic . The government has lowered expectations to 3mn t/yr by 2030 and pushed back the 5mn t/yr milestone to 2032. It blames the delay on factors out of its control, such as shifting EU policy signals and the International Maritime Organisation's (IMO) October decision to postpone a vote on its net-zero framework. But developers point also to domestic issues such as regulatory bottlenecks, uneven grid access and slow progress on securing offtake agreements. India's latest renewable ammonia tender, for which auctions were concluded in August , still faces unresolved details and outstanding questions , leaving significant work needed before implementation. Letters of award have been issued, but producers still need to sign supply agreements with state-owned Solar Energy Corporation of India (SECI), which will then execute sales contracts with fertilizer companies. These agreements were initially expected by the end of this year but are now likely to be delayed by several months into 2026. The main obstacle is that the payment security mechanism — a financial safeguard — still lacks critical detail, including whether it guarantees full recovery of payments in case of buyer default, repayment timeline and the funding source. There is also no clarity on who will cover the cost gap between fossil-based and renewable ammonia. And momentum has stalled on India's planned green methanol tender. Authorities had originally aimed to launch the tender in March 2026 , but the timeline has been pushed back after the IMO deferred its net zero framework vote. India's ports will play a leading role in aggregating demand, with Deendayal Port in the western state of Gujarat positioning itself as a future hub. The port plans to invite expressions of interest soon for projects totalling about 150,000 t/yr of e-methanol production capacity. Powering up Beyond policy, India faces structural challenges in its power sector. The government's 5mn t/yr hydrogen target would require roughly 125GW of additional renewable energy capacity. While India's renewable energy buildout, particularly for solar, has accelerated, transmission infrastructure has not kept pace . Developers cite inadequate grid buildout and missing last-mile connectivity for hydrogen and ammonia projects as some of the hurdles that need to be overcome. Greater alignment among states is also needed. A patchwork of rules, fees and levies is inflating project risks and complicating electricity delivery from renewable assets to hydrogen production sites. These uncertainties are adding to pressure on projects that are already racing against subsidy-linked timelines. Some developers are pressing ahead and winners of the first renewable hydrogen tender are targeting offtake agreements and final investment decisions (FIDs) in 2026, ahead of a 2027 commissioning deadline. But most projects are not expected to stay on schedule. Slow progress is also putting electrolyser manufacturers under strain and threatening their eligibility for government support. Many renewable hydrogen projects remain in early development and are a long way from placing equipment orders, leaving manufacturers that won government subsidies in a difficult position. Companies that were awarded support in the first electrolyser tender must commission their factories by August 2026, but several warn they may need to delay commissioning because orders are not yet materialising. Manufacturers have asked for a solution, but the government has yet to clarify whether it will extend the timelines. Turning points These challenges mean the year ahead will be critical for turning India's early policy initiatives into tangible progress. The government must resolve subsidy and payment security gaps, accelerate grid strengthening, harmonise inter-state regulatory inconsistencies and help developers lock in offtake agreements that can support financing. India's renewable hydrogen sector has retained its momentum, but 2026 will determine whether that momentum translates into project FIDs and construction — or whether timelines are stretched further into the next decade. By Akansha Victor Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
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