UK strategy would take a "twin-track approach", she said. "It would not be blue or green, but both. Blue gives us volume as well as investment."

The UAE is investing in various hydrogen projects as the Gulf state seeks to capitalize on the global appetite for green energy products as the energy transition trend gains momentum.

RWE and BASF are considering developing a new 2 GW offshore wind project in the German North Sea,

Siemens Energy, in collaboration with Dubai Electricity and Water Authority (DEWA) and Expo 2020 Dubai, has inaugurated the first industrial scale, solar-driven green hydrogen facility in the Middle East and North Africa.

Green hydrogen is produced from renewable energy, while blue hydrogen is derived from fossil fuels with carbon capture, utilization and storage.

The gist of the technical case for CCS in a hydrogen economy is that, so long as fossil fuels are available and deliver a high energy return on energy invested (EROEI), it is inherently cheaper and more efficient to produce hydrogen from fossil fuels by reforming, rather than by electrolysis of water.

The EU has made green and digital the two pillars of its recovery plan, aiming to strengthen its leadership in the global fight against climate change, boost innovation and reduce dependence on imports of critical materials.

On 8 July last year, the European Commission adopted the EU Hydrogen Strategy, which sets out how hydrogen can support the decarbonisation of industry, transport, power generation and buildings.

Russia’s Rosatom and France’e EDF on 26 April signed a strategic cooperation agreement to develop green hydrogen in Russia and Europe.

In recent times many countries are viewing hydrogen energy as an area essential for the implementation of national low-carbon development strategies. However, hydrogen is a secondary energy source, i.e. additional energy is required to produce it, which has an effect on its cost price.