Iancu: Hydrogen can be the basis of a new technological and digital revolution

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Hydrogen is currently the most spectacular solution to the new challenges, said PSD MP Iulian Iancu, chairman of the Industry and Services Commission of the Chamber of Deputies, chairman of the Romanian National Committee – World Energy Council (CNR-CME), quoted by financialintelligence .com.

In his opinion, hydrogen can be the basis of a new technological and digital revolution: “It is used for multiple applications besides the classic ones in the industrial field, today there are mature commercial technologies for the production of electricity, heat, hot water, energy storage, methane gas conversion, mobility (from cars, trucks, trains, ships to airplanes). Currently, however, it is used in the total mix of energy worldwide only in a percentage of about 1% and especially in industrial production processes from refineries to chemical fertilizers, and of this 1%, only 4% is green hydrogen.”

“We said that we will rely on natural gas until 2050, natural gas being considered the king of the energy transition and that oil will reach a peak in 2040-2045, when the process of decline of this resource that revolutionized humanity in the second part of the nineteenth century and with a spectacular development in the twentieth century, starts.

However, oil collapsed in 2020 at negative quotations for the first time in its history, and today we find natural gas with 4.7 euros in the Vienna Hub. That is about 20 lei/MWh, when we were talking about 110 lei 7-8 months ago.

This type of transformation also translates into a unique opportunity in capitalizing on new technologies”, Iancu added.

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