Westwood’s intelligence solution for energy transition stakeholders, Atlas New Energies, launches today, revealing that blue hydrogen is the key to driving development of hydrogen and CCS clusters
Aberdeen, UK, 14th September 2022: Latest analysis from Westwood Global Energy Group (Westwood), the specialist energy market research and consultancy firm, reveals that blue hydrogen projects account for over 16 GW of total announced hydrogen capacity in the UK and Norway, equivalent to approximately 90% of the hydrogen projects total for the same region. The UK alone accounts for 13GW capacity.
Further analysis shows that although there are four times the number of green hydrogen projects than blue, projected hydrogen capacity will largely be driven by the latter. This will be a key catalyst in the development of hydrogen and carbon capture and storage (CCS) clusters.
David Linden, Head of Energy Transition at Westwood says: “Although considerable offshore wind projects are developing in Northwest Europe, hydrogen projects are emerging at an unrivalled pace. The scale of blue hydrogen developments makes them a necessity to ensure 2030 regional targets are met – in fact, the current pipeline of announced capacity for UK projects would exceed targets if all achieved their planned start-up dates.”
Linden continues “This rate of change is representative of what we can expect as the energy transition gathers momentum. We are seeing increasing numbers of energy stakeholders diversifying their portfolios – and we are moving in-step. In doing so, we are able to support our clients to focus on what matters and better understand the growth of emerging energy sources, as well as the developing convergence of existing oil and gas and new energies for improved decision making.”
These findings follow the launch of Atlas New Energies; an integrated market intelligence solution covering energy clusters, offshore wind, hydrogen, CCS and related oil and gas infrastructure in the UK and Norway. Harnessing Westwood’s unmatched depth of data and heritage in the Northwest European region, the tool allows users to access and interrogate a database of over 250 new energies projects in the UK and Norway, providing greater transparency and a fuller understanding of the opportunities for companies.
Emma Cruickshank, Head of Research, Northwest Europe at Westwood said, “This new solution is a natural next step to our existing Atlas solution and is very-much driven by client demand and energy landscape trends. For those energy players looking to enter the new energies space, some of the biggest opportunities, can be found in Northwest Europe. Deciding on what role to play will be crucial for those looking to maximise their investment in this sector – and we are committed to supporting with the strategic, technical, and commercial questions that will inform the direction of the industry for years to come.”
Atlas New Energies is available now as a fully integrated module in the existing Atlas suite, or as a standalone service.
Figure 1: Pipeline of announced hydrogen projects for UK and Norway, due online by 2030
Source: Atlas New Energies, Westwood Analysis
ENDS
About Westwood Global Energy Group
Every day, organisations throughout the onshore and offshore energy value chain ask strategic, technical, and commercial questions and turn to Westwood Global Energy Group for the answers. As trusted advisors to companies in key sectors, Westwood Global Energy Group chooses to focus on areas of the industry traditionally underserved by other players.
The Energy Transition means that businesses are facing both new opportunities and risks in how they operate. We are committed to helping the energy industry navigate the transition successfully, by leveraging our extensive track record in providing actionable insight and advice that businesses, industry bodies and investors have relied upon time and time again. From the depth of our data to the insight from our industry experts, our commercial advisory to our quantitative techniques and databases – we insist on excellence in everything we do.
Westwood Global Energy Group is headquartered in London and has offices in Aberdeen, Houston, and Singapore.
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