Horizons Live: Isn’t it ironic?

The August Horizons explores how Europe’s oil refiners could become unlikely catalysts for scaling up green hydrogen – and what this means for policy, investment and the energy transition.

Low-carbon hydrogen has built momentum over the past decade, supported by climate targets and EU policy. Yet project development is faltering as buyers resist high costs and long-term offtake deals. Somewhat ironically, Europe’s refining sector – under pressure to decarbonise faster than anywhere else – could unlock demand growth.

Refining is currently the single largest source of hydrogen consumption worldwide, and EU regulations such as RED III are pushing refiners toward green hydrogen adoption. European refiners have already committed more than US$5 billion to projects, with new mandates in marine and aviation creating further opportunities. But hurdles remain: high costs, technology risks and uneven national adoption of EU rules are holding back large-scale deployment.

In August’s Horizons Live, our panel discussed how Europe’s refiners, policymakers and project developers can overcome these challenges. They explored what’s needed to accelerate cost reductions, secure reliable offtake and create the policy certainty required to scale up green hydrogen – and whether refiners could indeed be the catalyst for the industry’s next phase of growth.