Final investment decisions have been made on very few hydrogen projects, with many projects being pushed back, but hydrogen and PTX still have a role to play, although expectations have become more subdued, Philip Christiani, partner at CIP, tells Danish daily Børsen.

”Hydrogen has been talked up a lot in recent years as the magic solution to all problems. The reality is - and we can see this in our figures and in the discussions we have - that this pendulum may be swinging towards the middle again,” Christiani tells the newspaper, where he goes on to say that a sense of realism has entered the market.

Marie Münster, Professor of Energy Systems Analysis at the Danish Technical University, says that the market is slowing down after a number of years of what she describes as hype. 

However, both Münster and CIP tell the newspaper that they are convinced that hydrogen and PTX will play an important role in the green transition, but the big growth will happen between 2030 and 2050. 

English edit: Catherine Brett