Currently, an estimated 3 million tonnes (Mt) of hydrogen (H2) are produced in Canada, which makes the country a top 10 producer globally. The production is expected to increase significantly as hydrogen expands its applicability across various industries and markets. Canada is well positioned to be a leader in hydrogen-related fields, benefiting a wide range of stakeholders and creating the potential for a nationwide opportunity in the space.
Regions across the country have access to the foundational elements required for hydrogen production and can use the knowledge and expertise of Western Canada to meet and accelerate the advancement of net-zero goals.
Consider whether your business is prepared to support the hydrogen future
- Should hydrogen become an organizational focus, and is our organization well positioned to compete?
- What parts of our business operate in the hydrogen value chain?
- Are our competitors positioning themselves to participate in the hydrogen future?
- What operating, investment and infrastructure requirements does our organization need to fulfil to capitalize on hydrogen opportunities?
- What subsidies and other government incentives exist with regard to hydrogen, and which of them apply to our organization?
- Do we have a complete understanding of the hydrogen market, and have we considered different scenarios associated with development of the energy sector?
- What other organizations can we partner with to bring complimentary capabilities together to drive value?
Energy market players in upstream, midstream and downstream could see new growth opportunities as well as several challenges and uncertainties over the hydrogen revolution. The time to support the development of the hydrogen ecosystem is now.
EY has prepared the following report to provide an overview of hydrogen and identify some of the many ways Canadian organizations can participate across the value chain. For a deep dive into these materials, download our report Canada’s hydrogen future – risks and rewards and contact our professionals to discuss the future of hydrogen in your organization.