TRENDS AND PROSPECTS IN INTERNATIONAL HYDROGEN TRADE IN THE FACE OF NEW BARRIERS AND CHALLENGES TO GLOBAL COOPERATION

Abstract

The article aims to identify key trends, prospects, and features of international hydrogen trade, focusing on new barriers and challenges to global cooperation. It is determined that the current growth of interest in hydrogen is associated with incentives in developed countries to reduce greenhouse gas emissions and combat global warming. It is argued that international hydrogen trade is becoming an important factor in countries' energy and economic transformation, and the hydrogen energy global market will be actively developed and supported. Still, it will have to overcome technical limitations to achieve significant success. Based on theoretical and empirical generalizations, the author concludes that hydrogen has significant explicit and latent potential for international trade and sustainable development of global energy and is a key factor in achieving global decarbonization goals. Still, the main challenges remain high production and transportation costs and the need to invest in innovative technologies. The study emphasizes that the oil refining and fertilizer industries mainly generate the demand for hydrogen. However, experts argue that in the future, sectors that are heavily dependent on fossil fuels, such as heavy industry, long-haul transportation, and air transport, may benefit most from hydrogen energy. Currently, the largest importers of hydrogen are Asian countries, driven by the region's demand for chemicals and the transportation, iron, and steel sectors in China and India. The main exporters of hydrogen in the future may be the countries of Oceania, North America, and the Middle East. The main barriers and challenges in international hydrogen trade are identified, which can be classified into economic, political, technical and infrastructural. It is emphasized that different regions of the world use unique strategies to develop the hydrogen market, and some cases are presented. The study concludes that the prospects for international hydrogen trade and the future introduction of hydrogen into the global economy will depend on the factors that affect a country's ability to produce and export hydrogen, which is multifaceted and interdisciplinary and covers many areas. For example, a country's hydrogen production may be limited by its oil resources, renewable energy potential, water resources, or land area, and difficulties in producing or exporting hydrogen due to its infrastructure, financial capacity, political climate, and government policies.