As Europe diversifies away from Russian gas and oil, it plans to accelerate the deployment of renewable power sources and the consumption of renewable hydrogen. However, this requires adequate and diverse supply chains. For example, REPowerEU aims to replace 25-50 bcm per year of natural gas consumption with 5 million tons (mt) of domestically produced renewable hydrogen and 10 mt of imported renewable hydrogen. Today, under 1 mt per year of low-carbon hydrogen is produced globally.
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