#GMIS2020 VIRTUAL SUMMIT: SATURDAY, SEPTEMBER 5 2020 | 18:40 - 19:30 GMT+2
DAY TWO:
WATCH FULL VIDEO
Panel Discussion
DR. KIRSTEN WESTPHAL German Institute for International and Security Affairs and Member of the National Hydrogen Council
ARMIN SCHNETTLER CEO New Energy Business, Siemens Energy & President, VDE
WATCH HIGHLIGHTS
DANIEL MILLS Product Manager Hydrogen and Clean Energy, Linde Australia
THE GLOBAL HYDROGEN ECONOMY - TRANSFORMING INTO A SUSTAINABLE INDUSTRY AND CREATING NEW INDUSTRIAL VALUE CHAINS The push to develop hydrogen as a significant energy source is likely to disrupt and reshape global energy value chains and create opportunities for more countries to play a significant role. These were the key learnings from a panel discussion on the challenges of developing a global market for hydrogen, which was moderated by Holger Lösch, Deputy Director General of the Federation of German Industries (BDI). Hydrogen has often been referred to as “the oil of the future”, said Dr. Kirsten Westphal of the German Institute for International and Security Affairs and a Member of the National Hydrogen Council, but there is still a long way to go before we see a global hydrogen market comparable to the existing oil market.
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“There are more options with hydrogen and it’s really also more about who you partner and team up with and this is very important from the geopolitical and geoeconomic point of view,” said Westphal. “It’s really about defining joint ventures across the whole value chain. The oil system is very different. It’s basically dictated by geology and then infrastructure. Of course, we managed to build up a global oil trading system but this took a long time. My hope is that a similar system will develop for hydrogen, but it will be very different.” Armin Schnettler, CEO New Energy Business, Siemens Energy & President, VDE, said it was vital to bring the cost of hydrogen production down in order to transform and decarbonise existing fossil fuel-based industries.
Global Manufacturing & Industrialisation Summit | www.gmisummit.com
