VEB receives enquiries from oil and gas cos on hydrogen projects, but thus far without particulars

MOSCOW. April 18 (Interfax) - VEB.RF has received inquiries from the oil and gas sector regarding the implementation of hydrogen projects.

"Some initiators, including large oil and gas companies, have approached us on the topic of hydrogen projects," VEB.RF Vice President Dmitry Aksakov said at the National Oil and Gas Forum.

"But, frankly speaking, we have not yet seen clearly formulated hydrogen projects with a well-defined business plan, with a very clear financial model on what equipment is to be used in hydrogen production, where it is to be produced and to whom to sell it, how to transport it, such clearly formulated projects," he said.

The current Energy Strategy of Russia through 2035 assumes exports of 200,000 tonnes of hydrogen by 2024 and 2 million tonnes by 2035, but the document is currently being revised.