Russia and Europe Vie for Future Hydrogen Dominance as the Energy Landscape Shifts
• Russia aims to capture 20% of the global hydrogen market by 2030, leveraging its natural gas reserves and infrastructure • Green hydrogen can enhance Europe's future energy security, but EU countries currently lack production capacity • Europe should look to reliable partners like Azerbaijan for green hydrogen imports given its offshore wind and pipeline network • Oil will diminish in geopolitical importance; Europe should prepare now to avoid future energy supply shocks • The COP28 climate summit will put green hydrogen on the global agenda, with a plan to double production by 2030