Nearly 60 Low-Emission Hydrogen Projects Canceled or Suspended in 2025 Amid Industry Challenges
In 2025, close to 60 major low-emission hydrogen projects were canceled or suspended, involving companies like BP, ExxonMobil, and ArcelorMittal. These projects accounted for an expected annual production of nearly 5 million tons, over four times the current production capacity.
Recently, BP withdrew from planned hydrogen production facilities in Oman and the UK, while ExxonMobil halted construction of a major plant in Texas. ArcelorMittal declined €1.3 billion in government support for a hydrogen project in Germany, citing the unprofitability of green hydrogen compared to fossil fuel-derived hydrogen.
The International Energy Agency reports over 2,600 projects globally by the end of 2024, with a tenfold increase in clean hydrogen production needed by 2035 to meet climate neutrality goals. Despite EU energy storage market growth, it lacks defined targets, and major automakers are pushing to ease the EU's planned ban on combustion engine sales by 2035.
