In a recently released report, SRI Consulting of the United States pointed out that due to the increase in heavy oil refining and the strengthening of the laws governing the sulfur content of diesel oil, it is expected that the growth in hydrogen consumption will exceed 40% in the next five years. This will bring new opportunities for major hydrogen producers such as Air Products & Chemicals, Praxair and Air Liquide.
The trend towards lighter oil production will increase people’s dependence on heavy oil, and even heavier unconventional oil resources such as oil sands, and their refining is much more difficult than the former. In order to upgrade heavy oils to lighter, more useful products, it is necessary to remove most of the sulphur and other unwanted elements through chemical reactions and to increase the hydrogen content to the required level by hydrogenation. The heavier the oil, the more hydrogen it needs to add.
SRI Consulting pointed out that the more heavy crude oil refineries use, the greater the consumption of hydrogen. In addition, tar sand processing, natural gas synthesis, and coal gasification projects all require large amounts of hydrogen. In early 2007, Wood McKenzie Consulting predicted that unconventional oil and gas resources such as tar sands will increase from 10% of current world crude oil production to 20% by 2020.
In addition to the growth of heavy oil and unconventional petroleum refining, new environmental regulations require the use of hydrogen for diesel fuel for deep desulfurization, which will also greatly increase the amount of hydrogen used.
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