Greece can play an important role in supplying Europe with hydrogenboth as a producer and as a hydrogen transportation hub that will be produced in Egypt, Saudi Arabia, Umm, the Emirates.

This was emphasized by the managing director of the Hydrogen Europe organization, Giorgos Hatzimarkakis, in a message he addressed tonight in a discussion on “The role of green hydrogen in the European transition to zero emissions” held in the context of the Greek House Davos 2024.

“Greece is geographically at a crossroads, but it can also play a role as a consumer, for example to cover the energy needs of Crete or Greek shipping. Europe needs hydrogen to reach its climate targets, as it can also be used as a storehouse of green energy,” he added.

At the same conference, the vice-president of Breakthrough Energy (an organization founded by Bill Gates) Ann Mettler, highlighted the difficulties of developing hydrogen, especially in the EU of 27 where there are conflicting interests and priorities between member countries. He pointed out the need to speed up market integration processes and improve legislation on the part of the European Commission, in order to realize more investments. “Achieving the goals will not come from the sky,” he said.

The vice president of ArcelorMittal metallurgy, Irina Gorbounova, underlined thatsteel is essential for the energy transition, however, greening its production using hydrogen is even more expensive. “We have to close the cost gap, it’s hard to invest when there’s no return,” he said, presenting the company’s efforts to produce climate-neutral steel.

Andrea Bombardi, executive vice president of consultancy RINA, said that only 0.1% of the hydrogen produced today is green and that the hydrogen production and transport infrastructure needed to meet European targets is currently lacking.

Katerina Lianoudaki, executive of ProEuropean Trading, which is developing a green hydrogen production project in Atherinolakkos, Crete, underlined the strategic position of the island for the development of interconnections with the Middle East and Africa. Referring to investment financing, she noted that while there are several financing tools in the EU, financing from banks remains difficult.