20 Dec 2022
The race to establish green hydrogen production bases in the Asia-Pacific region is heating up, with Western and regional companies cooperating on massive projects to produce what many see as a next-generation power source.Danish multinational Orsted, the world's largest offshore wind power company, is considering entering the market, as are major Western oil companies.Green hydrogen, which does not emit carbon dioxide in its production process, is seeing demand rise globally for use as a power-generating fuel. Europe, where renewable energy is widespread, has taken the lead in the field, but Asia is now starting to move toward production.
"We have had an initial focus on Europe. But for certainly in the foreseeable future, we want to step into that area in Asia," Per Kristensen, who oversees the Asia-Pacific division at Orsted, told Nikkei.Orsted agreed to cooperate with South Korean steelmaker POSCO last year on an offshore wind power project. The companies have also started a feasibility study for the production of green hydrogen, and could be preparing a supply for "hydrogen steel," which uses hydrogen instead of coal for production.
Orsted operates a business in Denmark that uses offshore wind power to split water molecules to produce green hydrogen. Having launched multiple projects mainly in the North Sea, it now looks to utilize its know-how in Asia.
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