A model for renewable hydrogen export contracts: towards international best practice

There is an increasing global momentum for a renewable hydrogen export industry, with the International Energy Agency (IEA) predicting that global low‐emissions hydrogen production will increase from very low levels today to over 30 million tons (Mt) per annum in 2030. Whilst most of this hydrogen is currently forecast to be produced close to the point of use, the IEA notes that there is a ‘growing momentum behind international trade in hydrogen and hydrogen‐based fuels’. By examining historical Australian liquified natural gas (LNG) export contracts and the impact of so-called ‘Guarantee of Origin’ schemes, recommendations are made for a ‘renewable hydrogen export contract’ within the context of evolving regulatory arrangements in the United States and the European Union. This comparative functional analysis seeks to highlight key learnings for hydrogen export contracts to facilitate international alignment and accelerate the development of a functioning global hydrogen market.