Connect with us

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website. .

Trading

Snam CEO hopes COP26 will provide definition for blue hydrogen

2021 10 23T085514Z 1 LYNXMPEH9M02H RTROPTP 4 ALSTOM SNAM HYDROGEN - Global Banking | Finance

By Marwa Rashad and Yousef Saba

LONDON (Reuters) – The COP26 climate conference in Glasgow ought to agree a definition for blue hydrogen to help producers trade it, the CEO of gas infrastructure group Snam said on Saturday.

“At COP26 we need to define what blue hydrogen means, because if you have blue hydrogen with little CO2 capture and a lot of methane leakage, it is very damaging,” CEO Marco Alvera told the Saudi Green Initiative forum in Riyadh.

“Blue hydrogen must be defined, has to be certified, so the people producing very low or no carbon and no methane leaking in the hydrogen can have a tradable market,” he said.

Italy’s Snam makes most of its revenue from gas transport but has signed a flurry of hydrogen deals over the last year.

Governments and energy companies are placing large bets on hydrogen helping lower greenhouse gas emissions, but its future uses and costs are highly uncertain.

Blue hydrogen is extracted from natural gas using steam-methane reforming, currently the standard process, and captures the CO2 emissions in underground or subsea storage.

It is seen as a transitional approach while green hydrogen, which uses renewable energy for extraction, cannot fully meet demand. Some environmentalists oppose it.

Alvera also said he hoped COP26 would help get consumers involved.

“We need to get Amazon to start certifying net zero products. That will create a big offset market,” he said, noting this would also require a means of certifying the supply chain of products.

(Reporting by Yousef Saba in Riyadh and Marwa Rashad in London; editing by Peter Graff and Jason Neely)

Global Banking & Finance Review

 

Why waste money on news and opinions when you can access them for free?

Take advantage of our newsletter subscription and stay informed on the go!


By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review │ Banking │ Finance │ Technology. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Post