Sarawak to tap $11 trillion hydrogen market

File picture of a hydrogen fuel cell.

Chief Minister Datuk Patinggi Abang Johari Tun Openg is adamant that Sarawak must tap into the inevitable hydrogen boom with it tipped to be an $11 trillion market by 2050.

“Gabungan Parti Sarawak (GPS) government has taken bold steps to promote clean energy industry by exploring the hydrogen economy, diversifying from traditional energy sources.

“However, there are some sceptics saying that is an infant economy, but I have the document here to prove otherwise – the hydrogen market is expected to be worth $11 trillion in 2050,” he said, showing a news article that he brought into the august House.

“They also said that Australia could lead the hydrogen boom. So, the potential is there, Sarawak must position itself (there) because we have the potential and God willing, we will be there,” he said in his winding up speech today.

Abang Johari said the state’s vision for hydrogen was acknowledged by the Federal government which supported it in the 2021 Federal Budget.

“Earlier this month, SEDC, Sumitomo Corporation and ENEOS, a subsidiary company of Nippon Oil made a bold decision to invest with a strong commitment to explore mega hydrogen production in Bintulu and to achieve export potential.

“And earlier this week I witnessed the signing of MoU (Memorandum of Understanding) on Green Hydrogen Commercial Exploration between Sarawak Energy Berhad and Petroliam Nasional Berhad (Petronas).

“Sarawak Government will provide support for all these initiatives by the private sector. These developments signify the conviction of private sector on the immense potential of hydrogen production in Sarawak,” he said.

The chief minister said he viewed that there was confidence among international investors to turn crisis into opportunities, in pioneering the development of green hydrogen in the region.

“The investment will contribute not only to localise production of alternative energy, but also reinvigorating the local economy and creating job opportunities, having the effect of killing three birds with one stone,” he said.