Russia’s Policy Transition to a Hydrogen Economy and the Implications of South Korea–Russia Cooperation

Kim Youngok, Yi Eunkyung and Son Hyunik
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Kim Youngok: Graduate School of International Area Studies, Centre for International Area Studies, Russian Department, Hankuk University of Foreign Studies, 107, Imun-ro, Dongdaemun-gu, Seoul 02450, Korea
Yi Eunkyung: Graduate School of International Area Studies, Centre for International Area Studies, Russian Department, Hankuk University of Foreign Studies, 107, Imun-ro, Dongdaemun-gu, Seoul 02450, Korea
Son Hyunik: Graduate School of International Area Studies, Centre for International Area Studies, Russian Department, Hankuk University of Foreign Studies, 107, Imun-ro, Dongdaemun-gu, Seoul 02450, Korea

Energies, 2021, vol. 15, issue 1, 1-12

Abstract: Leading countries are developing clean energy to replace fossil fuels. In this context, Russia is changing its energy policy towards fostering new energy resources, such as hydrogen and helium. Hydrogen will not only contribute to Russia’s financial revenue by replacing natural gas, but will also provide a basis for it to maintain its dominance over the international energy market by pioneering new energy markets. Russia is aiming to produce more than two million tons of hydrogen fuel for export to Europe and Asia by 2035. However, it is facing many challenges, including developing hydrogen fuel storage systems, acquiring the technology required for exporting hydrogen, and building trust in the fuel market. Meanwhile, South Korea has a foundation for developing a hydrogen industry, as it has the highest capacity in the world to produce fuel cells and the ability to manufacture LNG: (liquefied natural gas) carriers. Therefore, South Korea and Russia have sufficient potential to create a new complementary and reciprocal cooperation model in the hydrogen fuel field. This study examines the present and future of Russia’s energy policy in this area as well as discusses South Korea and Russia’s cooperation plans in the hydrogen fuel sector and the related implications.

Keywords: hydrogen fuel; Russia’s energy strategy 2035; Korea–Russia cooperation; Russia’s policy transition; hydrogen economy (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2021
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