The Ministry of Climate, Energy and Environment announced on the 22nd that there will be no issues in supplying hydrogen for hydrogen vehicle charging through the end of the year.

The Ministry explained this during the 3rd Transportation Hydrogen Supply and Demand Consultative Body meeting held at the Center Point Gwanghwamun Building in Jongno-gu, Seoul, on this day.

According to the Ministry, transportation hydrogen consumption from January to August this year reached 13,711 tons, representing a 47% increase compared to the same period last year.

This was driven by the distribution of approximately 5,000 additional hydrogen vehicles this year.

As of August this year, the cumulative number of distributed hydrogen vehicles stood at 49,722, an increase of 5,067 from the end of last year (44,655 vehicles).

The Ministry estimated that an additional 11,100 tons of transportation hydrogen will be consumed by the end of the year, taking into consideration the hydrogen vehicle distribution plan.

It analyzed that no supply and demand issues will occur because the amount of hydrogen available for supply through the end of the year is 14,500 tons.

The Korea Petroleum Management, the dedicated hydrogen distribution agency, stated, "Although the supply of byproduct hydrogen using naphtha as raw material has partially decreased due to the Middle East war and the restructuring of the petrochemical industry, byproduct hydrogen from other raw materials and natural gas reformed hydrogen have offset this, keeping the current transportation hydrogen supply at a normal level of 70 tons per day."

Meanwhile, considering the increased burden on the bus industry due to rising hydrogen prices stemming from the Middle East war, the government decided to raise the hydrogen fuel subsidy from the current 5,000 KRW to 6,000 KRW per kilogram, providing support from next month through the end of the year.

[Copyright (c) Global Economic Times. All Rights Reserved.]