Implications of 'net-zero emissions by 2050' for the hydrocarbon industry: a case study of hydrogen in mature petroleum jurisdictions.

This article examines the implications of the Net Zero Emissions by 2050 (NZE2050) pathway for the hydrocarbon industry, focusing on mature petroleum jurisdictions such as Australia and Canada. It highlights the potential for the hydrocarbon sector to contribute to the global energy transition through the development of blue hydrogen—hydrogen produced from natural gas with carbon capture, utilization, and storage (CCUS)—and the repurposing of existing infrastructure for hydrogen production, transport, and storage. The study emphasizes the need for coordinated policy, regulatory reform, and investment to scale up hydrogen technologies and integrate them into energy systems while maintaining energy security. It concludes that the hydrocarbon industry, leveraging its expertise and resources, can play a vital role in achieving NZE2050 targets by facilitating low-carbon energy solutions rather than facing outright decline.