Oil and Gas Sector Strategies in Blue Hydrogen: Market Overview, Upcoming Projects, Key Players and Case Studies

Powered by

All the vital news, analysis, and commentary curated by our industry experts.

$2500

Oil and gas companies have been exploring blue hydrogen as it enables them to capitalize on existing skills and processes, reduce overall emissions, and future-proof their operations through product diversification. However, shifting corporate strategies has resulted in a downturn of activity for oil and gas players within the blue hydrogen market over the past year.

Currently, blue hydrogen accounts for the lion's share of active low-carbon hydrogen capacity, at 84%. This has been facilitated by the relative ease of retrofitting existing grey hydrogen production compared to building out new capacity. Despite blue hydrogen being expected to see a strong growth in capacity until the end of the decade, its growth is forecasted to be outpaced by green hydrogen.
The promise of lower levelized production costs, helped by falling renewable energy prices, has historically spurred interest in green hydrogen. However, green projects continue to face a number of barriers to reaching completion. As a result, oil and gas companies have been exploring blue hydrogen for a number of reasons.
Oil and gas companies have broadly maintained their competitive positioning within the blue hydrogen market. However, there are also examples where there has been a downturn in activity over the past year as corporate strategies shift. Companies such as BP and Shell, have announced the halting or complete cancellation of some blue hydrogen projects as part of a scale back of investments in low-carbon solutions, instead focusing on high-margin projects.

Scope

Global blue hydrogen market outlook

Largest upcoming blue hydrogen projects involving oil and gas companies

Key oil and gas players in blue hydrogen

Key deals in the blue hydrogen market involving oil and gas companies

Oil and gas companies’ blue hydrogen strategies

Key Highlights

Currently, ExxonMobil and Shell are the largest oil and gas participants investing in blue hydrogen projects, with cumulative capacities totaling 952ktpa and 797ktpa, respectively. However, the two companies’ strategies differ with ExxonMobil being involved in a lower volume of projects, with the bulk of its capacity driven by its highly-anticipated Baytown Hydrogen Facility in the US.

Reasons to Buy

Identify decarbonizing market trends within the oil and gas sector, including the analysis of the strategies that the biggest industry players are implementing.

Develop market insight of the major technologies and pathways used to decarbonize the industry, including retrofitting existing grey hydrogen facilities with carbon capture, storage, and utilization (CCUS) technologies to produce blue hydrogen.

Facilitate the understanding of what is predicted to happen in the blue hydrogen market within the next decade and the impact oil and gas players will have on the outcome.

Shell
Nutrien
Air Products and Chemicals
Qatar Fuel Additives
BW Group
Clean Hydrogen Works
ExxonMobil
Mitsui OSK Lines
Equinor
ThyssenKrupp AG
Vier Gas Transport
BP
Deltalings
Koninklijke Vopak
L'Air Liquide
Port of Rotterdam
Bakken Energy
Mitsubishi Heavy Industries
Atco
Suncor Energy
Onyx Power Group
TransGas Development Systems
ADNOC
Linde
Eni
Korea Electric Power Corp
SK Innovation
Essar Group
QatarEnergy
Newpoint Gas
MMEX Resources
Inpex
IMO
Qatar Fertiliser Company
Saudi Aramco
Air Products Qudra
Topsoe
Woodside Energy
OCI Global
Marubeni

Table of Contents

Executive Summary

Blue Hydrogen Outlook

Global blue hydrogen capacity projections

Regional breakdown of blue hydrogen

Largest upcoming blue hydrogen projects

Key players in blue hydrogen

Oil and Gas players in blue hydrogen

Largest blue hydrogen projects involving oil and gas companies

Capacity scenarios

Leading oil and gas companies in blue hydrogen

Intended use sectors

Key deals regarding oil and gas companies in blue hydrogen

Oil and gas companies' blue hydrogen strategies

Recent case studies

Table

Largest upcoming blue hydrogen projects

Largest blue hydrogen projects involving oil and gas companies

Key deals regarding oil and gas companies in blue hydrogen

Figures

Blue hydrogen outlook based on active and upcoming projects 2022-2030

Regional split of blue hydrogen capacity by development stage based on project announcements 2025 YTD

Top 5 countries by blue hydrogen capacity 2022-2030

Leading companies in blue hydrogen production by net capacity as of June 2025

Capacity scenarios for blue hydrogen projects with oil and gas participants

Leading oil and gas companies in bluenhydrogen production as of June 2025

Allocation of oil and gas participants blue hydrogen by end-use sector 2025 YTD

Allocation of oil and gas participants blue ammonia by end-use sector 2025 YTD

Oil and Gas Sector Strategies in Blue Hydrogen: Market Overview, Upcoming Projects, Key Players and Case Studies standard reports
Currency USD
$2,500

Can be used by individual purchaser only

$7,500

Can be shared globally by unlimited users within the purchasing corporation e.g. all employees of a single company


Undecided about purchasing this report?

Enquire Before Buying

Get in touch to find out about multi-purchase discounts

reportstore@globaldata.com
Tel +44 20 7947 2745

See what our customers are saying
testimonial-image
testimonial-image
testimonial-image
testimonial-image
testimonial-image
testimonial-image
testimonial-image

“The GlobalData platform is our go-to tool for intelligence services. GlobalData provides an easy way to access comprehensive intelligence data around multiple sectors, which essentially makes it a one-for-all intelligence platform, for tendering and approaching customers.

GlobalData is very customer orientated, with a high degree of personalised services, which benefits everyday use. The highly detailed project intelligence and forecast reports can be utilised across multiple departments and workflow scopes, from operational to strategic level, and often support strategic decisions. GlobalData Analytics and visualisation solutions has contributed positively when preparing management presentations and strategic papers.”

Business Intelligence & Marketing Manager, SAL Heavy Lift

“COVID-19 has caused significant interference to our business and the COVID-19 intelligence from GlobalData has helped us reach better decisions around strategy. These two highlights have helped enormously to understand the projections into the future concerning our business units, we also utilise the project database to source new projects for Liebherr-Werk to use as an additional source to pitch for new business.”

Market Analyst & Management, Liebherr-Werk

Your daily news has saved me a lot of time and keeps me up-to-date with what is happening in the market, I like that you almost always have a link to the source origin. We also use your market data in our Strategic Business Process to support our business decisions. By having everything in one place on the Intelligence Center it has saved me a lot of time versus looking on different sources, the alert function also helps with this.

Head of Key Accounts, Saab AB

Having used several other market research companies, I find that GlobalData manages to provide that ‘difficult-to-get’ market data that others can’t, as well as very diverse and complete consumer surveys.

Marketing Intelligence Manager, Portugal Foods

Our experience with GlobalData has been very good, from the platform itself to the people. I find that the analysts and the account team have a high level of customer focus and responsiveness and therefore I can always rely on. The platform is more holistic than other providers. It is convenient and almost like a one stop shop. The pricing suite is highly competitive and value for our organisation.

I like reports that inform new segments such as the analysis on generation Z, millennials, the impact of COVID 19 to our banking customers and their new channel habits. Secondly the specialist insight on affluent sector significantly increases our understanding about this group of customers. The combination of those give us depth and breadth of the evolving market.

I’m in the business of answering and helping people make decisions so with the intelligence center I can do that, effectively and efficiently. I can share quickly key insights that answer and satisfy our country stakeholders by giving them many quality studies and primary research about competitive landscape beyond the outlook of our bank. It helps me be seen as an advisory partner and that makes a big difference. A big benefit of our subscription is that no one holds the whole data and because it allows so many people, so many different parts of our organisation have access, it enables all teams to have the same level of knowledge and decision support.

Head of Customer Insight and Research, Standard Chartered

“I know that I can always rely on Globaldata’s work when I’m searching for the right consumer and market insights. I use Globaldata insights to understand the changing market & consumer landscape and help create better taste & wellbeing solutions for our customers in food, beverage and healthcare industries.

Globaldata has the right data and the reports are of very high quality compared to your competitors. Globaldata not only has overall market sizes & consumer insights on food & beverages but also provides insights at the ingredient & flavour level. That is key for B2B companies like Givaudan. This way we understand our customers’ business and also gain insight to our unique industry”

Head of Consumer Sensory Insights, Givaudan

GlobalData provides a great range of information and reports on various sectors that is highly relevant, timely, easy to access and utilise.  The reports and data dashboards help engagement with clients; they provide valuable industry and market insights that can enrich client conversations and can help in the shaping of value propositions. Moreover, using GlobalData products has helped increase my knowledge of the finance sector, the players within it, and the general threats and opportunities.

I find the consumer surveys that are carried out to be extremely beneficial and not something I have seen anywhere else. They provided an insightful view of why and which consumers take (or don’t) particular financial products. This can help shape conversations with clients to ensure they make the right strategic decisions for their business.

One of the challenges I have found is that data in the payments space is often piecemeal. With GD all of the data I need is in one place, but it also comes with additional market reports that provide useful extra context and information. Having the ability to set-up alerts on relevant movements in the industry, be it competitors or customers, and have them emailed directly to me, ensures I get early sight of industry activity and don’t have to search for news.

Senior Account Manager, TSYS
Go even deeper with GlobalData Intelligence Center

Every Company Report we produce is powered by the GlobalData Intelligence Center.

Subscribing to our intelligence platform means you can monitor developments at Oil and Gas Sector Strategies in Blue Hydrogen: Market Overview, Upcoming Projects, Key Players and Case Studies in real time.

  • Access a live Oil and Gas Sector Strategies in Blue Hydrogen: Market Overview, Upcoming Projects, Key Players and Case Studies dashboard for 12 months, with up-to-the-minute insights.
  • Fuel your decision making with real-time deal coverage and media activity.
  • Turn insights on financials, deals, products and pipelines into powerful agents of commercial advantage.