Trade association for the UK downstream oil sector the UK Petroleum Industry Association (UKPIA) has called for Government to accelerate development of its ‘business model for low carbon hydrogen transport and storage’.
In response to the Government’s consultation that ran from 21st August to 22nd November 2022, UKPIA has stated that plans to publish the business model by mid-2023 could risk delaying major projects needed for Net Zero.
The consultation sought views on hydrogen transport and storage infrastructure business model designs, regulatory arrangements, strategic planning and the role of blending.
According to the UKPIA, before any final investment decisions (FIDs) are made some low carbon hydrogen projects will require transport and storage infrastructure to be built, which could take up to four years.
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