Australia and the Middle East will become leaders in green hydrogen exports

According to Energy News on October 28, according to an analysis by energy consulting firm Wood Mackenzie, Australia and the Middle East are most likely to become major exporters of "green" hydrogen in the next few years
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Green hydrogen is produced using renewable energy rather than fossil fuels
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It can be used as a clean energy source for industries such as manufacturing and transportation, but its production cost is high and transportation is difficult

Nevertheless, the expected surge in demand for low-carbon hydrogen (including green hydrogen) has prompted several countries to announce plans to build hydrogen export capabilities
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Wood Mackenzie said in a report that nearly 60% of such projects are located in Australia and the Middle East

Prakash Sharma, head of marketing and transformation for the Asia-Pacific region of the consulting firm, said Australia and the Middle East are both close to potential major importing countries in Northeast Asia and Europe

Sharma said on CNBC's "Asia Squawk Box" program on Thursday: "The proximity will help.

He added that the main question is which market can overcome the costs and challenges of transporting hydrogen, especially long-distance transport