will need a combination of all those measures in the short term. A second area where policy support is needed is in providing the necessary supporting infrastructure. This involves the construction of pipelines, conversion of natural gas pipelines to accommodate hydrogen, ports, storage facilities and refueling stations. Most of these will struggle in the beginning, and the business case is difficult for years to come. Policy support can overcome this. Thirdly, regulation that supports trade, for example standards and certificates that determine the carbon intensity of the hydrogen molecules, is a prerequisite for trade. Such standards and certificates require international coordination and harmonization. Can you elaborate on the importance of global cooperation in the green hydrogen space, and what regions or countries are leading the charge? Global cooperation in the green hydrogen space is very important. Green hydrogen has the potential to connect areas where it can be produced cost effectively with areas that have high energy demand, but lower potential for low-cost green hydrogen production. Europe, Japan and Korea are all net energy importers and will remain net importers in the future, even after the energy transition. They have been actively working on global cooperation frameworks to source green molecules for their future energy demand. These frameworks incorporate government to government agreements, including the build out of supporting infrastructure but also harmonization on trade facilitation elements, such as standardization and certification. On the exporting side, various countries and regions stand out. The MENA region has understood the significance of green hydrogen and export potential years ago but a growing number of Green hydrogen has the potential to connect areas where it can be produced cost effectively with areas that have high energy demand “
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THE FUTURE OF ENERGY
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