The transition of the global energy system away from fossil fuels and towards renewable hydrogen could lead to a significant reassessment of geopolitical relationships – potentially supporting the emergence of new global powers, according to a new report published by the International Renewable Energy Agency (IRENA). According to the IRENA report, Australia is well placed to retain its status as a leading global energy exporter, provided it embraces its renewable hydrogen production potential, even as global demand for fossil fuels dwindle. Just as fossil fuel resources have long been influential on geopolitical developments, the latest IRENA assessment suggests an emerging hydrogen industry could reshape global political and economic relationships, potentially bringing new participants into the global energy market and reshaping the roles of current energy market powers.
Renew Economy 17th Jan 2022 read more »