Jake Stones
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Articles by Jake Stones
EU Hydrogen Bank could bring renewable hydrogen costs below €1/kg
ICIS data shows that renewable hydrogen could be sold for below €1/kg ($1.09/kg) if a producer obtains the maximum support provided by the European Hydrogen Bank, according to the heads of terms for the bank published by the European Commission on March 31 (2023). The bank, which was announced in September 2022, aims to support hydrogen producers using an auction bidding system, which ranks bidders according to price per kilo of hydrogen.
EU Hydrogen Bank could bring renewable hydrogen costs below €1/kg
ICIS data shows that renewable hydrogen could be sold for below €1/kg if a producer obtains the maximum support provided by the European Hydrogen Bank, according to the heads of terms for the bank published by the European Commission on 31 March. The bank, which was announced in September 2022, aims to support hydrogen producers using an auction bidding system, which ranks bidders according to price per kilo of hydrogen.
ICIS: EU Hydrogen Bank could bring renewable hydrogen costs below €1/kg
By Jake Stones, hydrogen editor at ICIS ICIS data shows that renewable hydrogen could be sold for below €1/kg if a producer obtains the maximum support provided by the European Hydrogen Bank, according to the heads of terms for the bank published by the European Commission on 31 March. The bank, which was announced in September 2022, aims to support hydrogen producers using an auction bidding system, which ranks bidders according to price per kilo of hydrogen.
What is renewable hydrogen?
Background In order to reduce Europe’s reliance on Russian natural gas, the European Commission has outlined several measures under its REPowerEU package that aim to reduce gas demand and provide alternative sources of supply. One means of reducing gas demand is via the introduction of renewable hydrogen, a molecule that can be used instead of natural gas for hard-to-abate sectors such as transport and industry.
Germany doubles 2030 hydrogen production target
LONDON (ICIS)--On 24 November Germany’s coalition government announced plans to support 10GW of hydrogen electrolyser capacity by 2030, double the original target, while increasing the use of the fuel for power generation. This means production could rise to 28TWh/year at 4,000 load hours, ICIS data showed, an increase of 14TWh compared to the original plan released last year.
Belgium-Chile deal to boost cheap EU green hydrogen supply
Belgium-Chile deal to boost cheap EU green hydrogen supply November 11 (Renewables Now) - A new agreement between the Belgian ports of Antwerp and Zeebrugge with the Chilean energy ministry could supply Europe with green hydrogen at EUR 1.10/kg, 10% of current baseload hydrogen prices. The agreement, signed at COP26 in Glasgow on November 4, commits the two ports and the Chilean Ministry of Energy to develop green hydrogen trade between Chile and Western Europe.
PODCAST: German hydrogen potential and imports
LONDON (ICIS)--Hydrogen editor Jake Stones and independent adviser for hydrogen David Scrimgeour discuss the potential for the largest hydrogen market in Europe, Germany and also the potential for significant green hydrogen supply from COP26 host nation Scotland.
Water Infrastructure: The Alternative to Uncertainty
The U.S. water infrastructure system is in a critical state of disrepair due to aging and deteriorating facilities. The American Society for Civil Engineers 2021 Infrastructure Report Card graded U.S. infrastructure a C- overall with drinking water infrastructure graded at a C-, wastewater a D+ and storm water a D.
PODCAST: Impact of HyNet, East Coast Cluster track 1 selection on UK hydrogen
LONDON (ICIS)--Hydrogen editor Jake Stones and CCUS and hydrogen expert Tony Smith discuss the impact of the UK government's announcement to select HyNet and the East Coast Cluster for track 1 of its cluster sequencing programme, reviewing how the programme could shape the future of the country's hydrogen market.
A case for European blue hydrogen
In August this year the paper “How green is blue hydrogen?” hit the academic press. Co-authored by Professor Howarth of Cornell University, the paper makes the case that reforming natural gas alongside carbon capture and storage (CCS) to produce blue hydrogen can generate more than 20% more greenhouse gas (GHG) emissions than the direct use of natural gas.
Acorn, Cavendish agreement could boost UK blue hydrogen capacity to 11.5GW
LONDON (ICIS)--The Acorn Project and Project Cavendish announced the signing of a memorandum of understanding (MoU) for captured carbon’s transportation and storage (T&S) on 12 October, supporting an additional 1.7GW of UK hydrogen capacity by 2030. The Acorn Project, a key carbon capture and storage (CCS) project located at St Fergus, Scotland, offers T&S infrastructure for the Scottish Cluster, which aims to deliver CCS and hydrogen across Scotland.
GIF INSIDE STORY: UK industries squeezed by surging gas prices, tight energy supply
By Kaja Sillett, Jake Stones, Richard Ewing, Ruth Liao and Ben Samuel LONDON (ICIS)--Surging European gas prices continue to struggle to attract LNG from resolute Asian buyers, coal-to-gas power switching has been near exhausted and traditional pipeline suppliers are pushing every molecule they can. With conventional flexibility sources pushed to their limit the market is having to turn to less conventional forms of demand side response to prevent a worst-case scenario in peak winter.
INEOS announces blue hydrogen capacity at Grangemouth
LONDON (ICIS)--On 22 September, UK chemicals manufacturer INEOS announced investment of £1bn (€1.16bn) to support businesses across the Grangemouth industrial cluster in Scotland switching to hydrogen by 2030. This can expand the UK’s potential blue hydrogen capacity from eight key projects to nearly 11GW by the end of the decade. The investment would also support the development of carbon capture and storage (CCS) technology at the cluster, building on INEOS’s CO2 reductions.
European gas traders expect TTF front-month gains to continue
The Dutch TTF front month contract surpassed €60/MWh on Monday trade, an all-time high. Traders polled by ICIS believe that the contract is primed for bullishness moving forward, with implications for European power markets also suggesting price support. By 11:00 London time the ICIS TTF front month had risen by €2.325/MWh on Friday’s settlement price to reach an intraday assessment level of €60.175/MWh. By the close at 16:30 London time, the contract settled at €61.313/MWh, a €3.463/MWh jump.
UK government launches hydrogen strategy
LONDON (ICIS)--On 17 August the UK government outlined plans for a potential 20% blend of hydrogen in the gas network by the end of the decade through a strategy paper, despite maintaining a low production target. ICIS analysis indicated this could amount to 51TWh in 2030, based expectations from system operator National Grid that gas demand will be 72 billion cubic metres (bcm) by this point. This would displace 14.4bcm of gas.
ESB 3TWh hydrogen storage facility supports Ireland's power decarbonisation
• 3TWh of hydrogen storage planned • Up to 2.3TWh of hydrogen generation from excess renewables possible by 2030 • Hydrogen could support Ireland’s decarbonised power grid LONDON (ICIS)--Irish utility ESB and geological energy company dCarbonX announced on 12 August a 3TWh hydrogen storage project situated off the coast of County Cork, Republic of Ireland. The project will be capable of storing 10% of Ireland’s power demand, ICIS analysis showed.
UK cluster sequencing could support 8GW of hydrogen capacity
LONDON (ICIS)--The UK government has announced five potential candidates for phase one of its cluster sequencing programme, which combined would support 7.7GW of low-carbon hydrogen production by 2030, ICIS analysis showed. The programme aims to have two active carbon capture, storage and utilisation (CCUS) projects online by the mid-2020s, with an additional two online by 2030. The programme is split into two tracks.
SSE, Equinor plan 320GWh hydrogen storage site for UK
LONDON (ICIS)--One of the largest UK hydrogen storage sites is set to be developed at a natural gas storage facility at Aldborough, UK utility SSE and oil and gas major Equinor announced on 15 July. The project will have a potential online date by 2028. The initial plans outline potential storage capacity of 320GWh, with an aim to support hydrogen initiatives in the Humber region.
Dolphyn hydrogen project accelerates to next phase
LONDON (ICIS)--The ERM Deepwater Offshore Local Production of Hydrogen (Dolphyn) project is progressing to its next phase of development, supporting up to 100-300MW of offshore-wind-powered electrolysis within the 2020s, project developers ERM confirmed to ICIS on 2 July. The ERM Dolphyn project aims to produce hydrogen from floating offshore wind, using electrolysers located on the turbine platforms, therefore avoiding power connections and transporting hydrogen molecules to shore.
German electrolysis capacity could hit 24.5GW by 2030
LONDON (ICIS)--German gas Transmission System Operators (TSOs) released the scenario framework for the gas network development plan (NDP) 2022-2032 on 21 June, showing a clear need for hydrogen infrastructure developments over the coming years.
ICIS VIEW: Norwegian hydrogen roadmap leaves natural gas exports in place
Outlook Five hydrogen hubs to be developed One-two industrial projects to be established by 2025 Natural gas exports could be more cost effective LONDON (ICIS)--The Norwegian Government released its hydrogen roadmap on 11 June, outlining key policy plans up to 2030 that will support the country’s ambition to have an established hydrogen market by 2050.
Dutch hydrogen market could be established by 2027
This article was originally published on 4 June 2021 LONDON (ICIS)--A widely traded hydrogen market could come into place in the Netherlands by 2027, according to the conclusions of a hydrogen exchange definition study that were released earlier this week.
Bacton primed for hydrogen, UK Oil and Gas Authority report shows
LONDON (ICIS)--A study commissioned by the UK Oil and Gas Authority (OGA) has found that hydrogen production at Bacton could supply enough low-carbon energy for London and South East England. The report outlined that Bacton would be well-suited for both large scale blue and green hydrogen production.
UK government launches CCUS, hydrogen funding competitions
LONDON (ICIS)--The UK government announced on 24 May a £166.5m cash injection to support the build out of carbon capture technologies, greenhouse gas removal and hydrogen. The funding is part of the prime minister’s 10 Point Plan for a Green Industrial Revolution that was released in November and included a target of 5GW of installed low-carbon hydrogen production by 2030.
German government outlines green hydrogen definition
LONDON (ICIS)--The German cabinet agreed on a definition for green hydrogen and the incentives involved in helping to ramp-up production on 19 May as part of an update to the Renewable Energy Act 2021 (EEG 2021), expected to come into force on 1 January 2022. With this the cabinet expect that the “electrochemical production of green hydrogen will become significantly more economical and thus more competitive compared to conventional hydrogen production”.
Blue hydrogen could increase UK gas use under TSO plan
LONDON (ICIS)--British natural gas demand from the industrial and power sectors could rise by around 18%, according to an ICIS analysis of the National Grid Hydrogen Gas Markets Plan (GMaP) released on 12 May. Of the four hydrogen GMaP scenarios released by National Grid, the plan for the power and industrial sectors indicates a push towards blue hydrogen, which is produced by reforming natural gas and using carbon capture and storage (CCS).
Snam to expand Italy’s hydrogen refuelling station network
LONDON (ICIS)--Italian energy infrastructure company Snam announced plans to expand the country’s public hydrogen refuelling station network on 23 April. Snam4Mobility, a Snam Group company, and Wolftank Hydrogen have signed a Memorandum of Understanding (MoU) for the development of hydrogen refuelling stations in Italy. “The Snam-Wolftank collaboration is focused on the development of refuelling stations. Hydrogen supply mode will be evaluated at a later stage,” a Snam spokesman told ICIS.
Equinor, SSE plan 1.8GW of low-carbon power capacity
LONDON (ICIS)--Equinor and SSE announced plans to develop two low-carbon power plants, one equipped with carbon capture and storage (CCS) and the other powered entirely by hydrogen, adding a total capacity of 1.8GW by 2030, the two energy companies said in a statement on Thursday. Both plants, Keadby Hydrogen and Keadby 3, would be the first of their kind in the UK.
UK North Sea Transition Deal outlines £10bn for hydrogen
LONDON (ICIS)--On 24 March the UK government announced the North Sea Transition Deal , an agreement with the oil and gas industry that aims to support decarbonisation of the fossil fuel sector, including the potential for £10bn to be invested in hydrogen. The plan aims to harness existing capabilities, infrastructure and investment to promote new technologies such as hydrogen, carbon capture usage and storage (CCUS) and offshore wind, as well as decommissioning existing assets.
BP announces 1GW blue hydrogen project
LONDON (ICIS)--On 18 March British oil major BP announced plans for a 1GW blue hydrogen facility at Teesside industrial cluster by 2030. The project, called H2Teesside, would account for 20% of the UK government’s ambition to have 5GW of low-carbon hydrogen production online by the end of this decade. The facility would use natural gas alongside carbon capture and storage to generate blue hydrogen.
Nuclear power could support UK’s hydrogen ambitions
• Nuclear power could generate 33% of UK hydrogen by 2050 • Renewable capacity could push nuclear out of the mix • Potential 1GW nuclear hydrogen project LONDON (ICIS)--Nuclear capacity in Britain may well drop over the coming decade due to ambitious renewable targets. However, a roadmap from the Nuclear Industry Association (NIA) indicates the power source could be crucial to UK hydrogen up to 2050.
Pipeline supply balances LNG shortfall at NBP amid cold weather bull run
LONDON (ICIS)--Norwegian and interconnector flows into the UK rose by 1.6 billion cubic metres (bcm) year on year between 1-11 January as shippers targeted the NBP to meet soaring demand. Between 1-11 January 2021 colder temperatures and low wind increased total gas demand by 1.1 bcm compared to the same time in 2020. Meanwhile LNG sendout has plummeted, falling 0.5bcm compared to 2020 levels. This followed price spikes to the Asian LNG market, which has drawn European cargoes.
PODCAST: ICIS meets hydrogen aviation company ZeroAvia
LONDON (ICIS)--The coronavirus has levelled the aviation industry. However, this hard-to-decarbonise sector now has a chance to build back greener. One way of achieving this is by introducing hydrogen as a new, cleaner jet fuel. In this interview, energy market expert Jake Stones speaks to Julian Renz, business development manager for hydrogen aviation company ZeroAvia, to find out the intricacies of what’s involved in getting hydrogen planes to take flight.
UK green industrial revolution eyes hydrogen, wind and nuclear
Outlook • 40GW of wind capacity by 2030 and funding for nuclear power • 5GW of low-carbon hydrogen capacity by 2030 • Carbon capture and storage funding lifted to £1 billion LONDON (ICIS)--UK prime minister Boris Johnson on 18 November published his government’s ten-point plan for a British green industrial revolution, including landmark hydrogen capacity commitments for 2030 and a clear indication that nuclear would remain in the British power mix.
VIDEO: Global Gas Update Week 46
LONDON (ICIS)--Market reporter Jake Stones provides an overview of the key price drivers for the gas markets for the rest of week 46: US Gulf Coast Capacity gets a boost as train 3 at Corpus Christi is due to start production. At the same time train 1 at Freeport is also coming back online following a fire in October. The Northern Sea Route between Yamal LNG project and Asia appears to be closing for winter months, meaning more cargoes from the terminal will be directed towards Europe.
BP, Orsted to develop green hydrogen in Germany
LONDON (ICIS)--UK-based major BP and Danish utility Orsted will work together on bringing green hydrogen to BP’s Lingen refinery by developing a 50MW electrolyser, the companies announced on 10 November. The electrolyser is earmarked to come online for 2024, when the European Commission targets 6GW of electrolyser capacity as suggested in its European hydrogen strategy.
VIDEO: European Gas Update Week 45
LONDON (ICIS)--Market reporter Jake Stones provides an overview of the key price drivers for European gas markets for the rest of week 45: Gorgon train 2 repairs are complete and production will likely start from the end of November. Train 1 will shut down for inspection and potential repairs in December, thereafter train 3. Feedgas to US Gulf Coast LNG plants hit a new record on 31 October, with production likely ramping up now that the hurricane season is coming to an end.
ICIS VIEW: UK lockdown 2.0 shows stronger gas demand picture
LONDON (ICIS)--On 5 November Britain will likely return to a national lockdown to fight the spread of the coronavirus, however a winter lockdown will likely prevent the demand loss seen earlier in the year. To compare the first lockdown to the approaching one would be comparing apples to oranges. DEMAND In lockdown 1.0 (LD1), several bearish factors accompanied the widespread closure of schools and non-essential businesses.
VIDEO: European gas update for week 44
Stay on top of market volatility and inform your commercial strategies with pricing, data, news and analysis. Historical, current and forecast prices, together with commentaries, to help you track price fluctuation and understand price drivers and trends. Make fast and confident decisions and gauge the best time to buy or sell. Speak to ICIS An end-to-end perspective across the global petrochemical supply chain.
French government announces support for hydrogen projects
LONDON (ICIS)--On 23 October the French government announced a request for hydrogen projects looking for state support, following the publication of its strategy for the technology on 8 September. It will look to fund hydrogen developments in two categories. TECHNOLOGICAL BRICKS AND DEMONSTRATORS The first category is called “technological bricks and demonstrators”, with €2-5m available per project.
VIDEO: Week 43 European gas outlook
LONDON (ICIS)--European gas expert Jake Stones gives his outlook for the week ahead. Restrictions to Cameron and Sabine Pass LNG waterways could be easing in week 43. Cameron LNG hasn’t loaded since 5 October, however a shipping notice issued on 19 October suggested loadings could resume from Tuesday. In Asia, demand for spot LNG may drop soon as rising spot prices and falling Brent Crude has meant oil-linked pipeline gas supply is more cost competitive.
VIDEO: European gas outlook for week 42
LONDON (ICIS)--Market reporter Jake Stones provides an overview of the key price drivers for European gas markets for the rest of week 42: - Hurricane Delta has had a relatively low impact on US LNG export capacity, with Cameron LNG reporting no damage and Sabine Pass loading on 11 October - Initial Norwegian strike action was resolved last Friday, however potential disruption could arise if security staff also decide to strike. A mediation is being held on Friday.
National strategies pledge over half of EU’s 2030 electrolyser capacity target
LONDON (ICIS)--European nations have pledged to create 22GW electrolyser capacity for hydrogen production by 2030, more than a half of the European Commission’s goal. On 8 July, the commission adopted its hydrogen strategy, earmarking 40GW of electrolyser capacity installed by 2030. The Netherlands, Germany, Spain, Portugal and most recently France weighed in with 2030 targets in their national strategies.
European Gas Outlook: Week 40
LONDON (ICIS)--Market reporter Jake Stones provides an overview of the key price drivers for European gas markets over the next seven days: Feedgas has dropped to US LNG plants coinciding with compressor maintenance impacting flows to Cheniere’s Sabine Pass plant. Works to last until 2 October. Planned works on a pipeline leading to Corpus Christi expected to end on 29 September. Following major fire at Hammerfest LNG plant, the Artic Voyager cargo due 2 October could be redirected.
VIDEO: EU gas outlook for week 39
Stay on top of market volatility and inform your commercial strategies with pricing, data, news and analysis. Historical, current and forecast prices, together with commentaries, to help you track price fluctuation and understand price drivers and trends. Make fast and confident decisions and gauge the best time to buy or sell. Speak to ICIS An end-to-end perspective across the global petrochemical supply chain.
Interview with Storengy: What's in store for hydrogen
LONDON (ICIS)--One of the fundamental advantages of hydrogen as a low-carbon energy carrier is storage. Natural gas is injected into depleted fields and salt caverns across the summer months when demand is low, then withdrawn during winter to be used in heating. This picture could in theory be altered to suit hydrogen.
VIDEO: European Gas Outlook: Week 38
LONDON (ICIS)--Market reporter Jake Stones provides an overview of the key price drivers for European gas markets over the next seven days: Cameron LNG may not be able to load until mid-October now following continued issues after Hurricane Laura, meanwhile Sabine Pass loaded its first cargo on 9 September. The difference between the two is that Sabine Pass can generate power on site, whereas Cameron cannot. This is something to be aware of for the future hurricane season.
French strategy boasts largest 2030 electrolyser hydrogen capacity
OUTLOOK • France pledges highest electrolyser capacity in Europe to 2030 • Carbon-neutral hydrogen strategy to have a bullish impact on the French power market • Industry and transport focus areas for hydrogen decarbonisation LONDON (ICIS)--On 8 September France became the latest country to publish a hydrogen commitment, exceeding previous European national strategies by pledging 6.5GW of electrolyser capacity by 2030.
VIDEO: European Gas Outlook: Week 37
LONDON (ICIS)--Market reporter Jake Stones provides an overview of the key price drivers for European gas markets over the next seven days: The backlog of cargoes from the US Gulf Coast following Hurricane Laura could pressure European October ’20 contracts, with supply stacked towards the latter half of September.
VIDEO: European Gas Outlook: Week 36
LONDON (ICIS)--LONDON (ICIS)--Market reporter Jake Stones provides an overview of the key price drivers for European gas markets over the next seven days: Storage levels could rise as the Budince pipeline, which delivers into Ukraine, is now offline between 1-21 September.
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