Scientific and economic journal

«Problems of economics and management of oil and gas complex»

ISSN 1999-6942

Problems of economics and management of oil and gas complex
Hydrogen projects in corporate strategies of the European largest oil companies: economic rationality

UDC: 339.92
DOI: 10.33285/1999-6942-2022-2(206)-53-57

Authors:

ZHUKOV STANISLAV V.1,
KOPYTIN IVAN A.1,
POPADKO ARTEM M.1

1 Primakov National Research Institute of World Economy and International Relations, Russian Academy of Sciences, Moscow, Russia

Keywords: hydrogen market, corporate strategies, blue and green hydrogen, decarbonization, Europe, BP, Shell, Repsol

Annotation:

The article analyzes the hydrogen market in Europe and considers the corporate hydrogen strategies of large European oil companies in the context of an accelerating energy transition and increasing ecological pressure on oil business by regulators and green lobby. For European oil and gas companies, the development of hydrogen projects is a natural policy, since oil refining and petrochemicals will remain the largest final users of hydrogen in the foreseeable perspective. In combination with new renewable sources of energy hydrogen projects strengthen the completive advantages of oil companies in European markets. The higher are carbon taxes or/and prices of allowances on greenhouse gases emissions rise, the stronger it will stimulate oil companies to develop hydrogen projects.

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