Inspenet, July 8, 2023.
The official launch of the Hydrogen International Trade Organization is scheduled to take place during COP28 in Dubai. This intergovernmental forum will seek to establish prices, certifications and calculation methodologies for CO 2 reduction related to the hydrogen energy sector.
Hydrogen International Trade Organization: a space for debate
Rosilena Lindo Riggs, National Undersecretary of Energy of Panama, explained that the creation of a space is being proposed where hydrogen-producing countries in Latin America and the rest of the world can openly discuss the rules of the game. The objective is to establish standards for the commercialization of green hydrogen, define prices, obtain valid certifications and establish methodologies for calculating carbon emissions, all aimed at a healthier and more stable climate.
During her participation in a discussion of the Energy and Climate Alliance of the Americas (ECPA), Rosilena Lindo Riggs anticipated that the launch of this organization could take place this year. The expectation is that it will take place during the 28th Conference of the Parties (COP28), where the countries participating in the United Nations Framework Convention on Climate Change (UNFCCC) will meet and where countries from Latin America and the rest of the world.
During the ECPA, Rosilena Lindo Riggs also presented the national strategy for green hydrogen and its derivatives, which is promoted by the Ministry of Energy and is considered essential for the transformation of the hydrocarbon sector.
Panama is not only positioned as a strategic market for the transport and storage of green hydrogen and its derivatives, but also as a producing country. Lindo Riggs mentioned that they plan to produce hydrogen and green ammonia, e-methanol and e-kerosene.
Through a set of measures contemplated in its green hydrogen strategy, it seeks to create an industry that significantly reduces the negative impacts of emissions in the transport sector through the use of H2V.
There is great potential in Panama, especially considering that the Panama Canal alone supplies power to approximately 5,000 ships annually , resulting in hydrocarbon sales greater than domestic consumption.
“We have set ambitious goals for the year 2030, in which we hope that at least 5% of bunkering will be done with green fuels such as green ammonia and e-methanol. But we do not stop there, we have also set goals for years 2040 and 2050. By 2040, our goal is that at least 30% of dispatched fuels are clean energy sources and by 2050, at least 40%,” explained the Undersecretary of Energy.
That is not all, as he also expressed: “Our plans extend beyond the maritime sector. We have also established goals for the aviation sector. By the year 2050, we propose that at least 30% of the fuel dispatched be synthetic kerosene and other Sustainable Aviation Fuels that may be part of the process”.
“We want to be producers, and we have the expectation of producing 500,000 tons of green hydrogen and its derivatives by the year 2030,” he emphasized.
“However, taking into account that the demand could be higher in the next decade, we consider it necessary not only to increase our local production capacities, but also to encourage other countries with production potential, such as Brazil, Chile, Colombia, Costa Rica and Uruguay, to allocate its energy to Panama for its distribution in the maritime and aviation sectors,” he added.
Source and photo: https://petrobanca.com/panama-plantea-crear-el-hydrogen-international-trade-organisation/
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