2nd Mobility Hydrogen Supply and Demand Council Meeting
Hydrogen consumption for transportation in the first half of this year has significantly increased compared to the previous year. This is analyzed to be due to the expansion of hydrogen buses. Hyundai Motor Company, having expanded its production capacity, announced plans to actively supply hydrogen buses.
On the 4th, the Ministry of Trade, Industry and Energy held the "2nd 2024 Mobility Hydrogen Supply and Demand Council" meeting at the Koreana Hotel in Jung-gu, Seoul, to review the achievements of the first half and to check the hydrogen demand forecast and supply situation for the second half. The council, launched in February last year, includes the Ministry of Trade, Industry and Energy, Ministry of Environment, Ministry of Land, Infrastructure and Transport, distribution agencies, local governments, charging operators, hydrogen vehicle manufacturers, gaseous and liquefied hydrogen producers, and hydrogen distributors.
According to the Korea Petroleum Management Service, the dedicated hydrogen distribution agency, hydrogen consumption for transportation in the first half reached 3,790 tons, a 46% increase compared to the same period last year, due to the expansion of hydrogen bus deployment. The demand for the second half is expected to reach up to 8,400 tons, considering the hydrogen vehicle deployment targets. Hydrogen supply is anticipated to be stable with a maximum production of 13,000 tons from liquefied hydrogen plants, shipping centers, and production bases.
On the day, the Ministry of Environment announced plans for the deployment of hydrogen vehicles such as hydrogen buses and the construction of charging stations in the second half, while local governments presented regional plans for hydrogen bus and charging station deployment as well as hydrogen supply and demand management plans. Hyundai Motor Company stated that, following the expansion of hydrogen bus production facilities from 500 to 3,000 units annually in the first quarter, it will actively supply hydrogen buses.
Lee Ho-hyun, Director of the Energy Policy Office at the Ministry of Trade, Industry and Energy, said, "With the completion of the world's largest Incheon liquefied hydrogen plant in the first half of this year, hydrogen supply capacity has greatly expanded, and the deployment of hydrogen buses is accelerating. We will closely monitor the hydrogen supply and demand situation in the second half to prevent supply issues during periods of high vehicle movement such as summer vacations and Chuseok, and will cooperate closely with related ministries, local governments, and companies."
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