German chemical association VCI on Wednesday said 2019 will be a difficult year, pointing to geopolitical problems, as it confirmed its downbeat forecast.
Production in the chemical and pharmaceutical industries, which are important contributors to Germany’s gross domestic product, grew by 0.5% in the first quarter as producer prices decreased by 0.3% and sector revenues fell 1.1%, VCI said.
“Overall, the uncertainty of market participants remains strong,” it said, citing Britain’s planned exit from the European Union, Italy’s debt and the trade conflict between the United States and China.
“Excluding the pharmaceuticals business, chemical production should stagnate this year,” VCI said, confirming its full-year forecast of a 3.5% production and a 2.5% revenue decrease as producer prices are expected to rise by 1%.
By Tassilo Hummel
Source: Reuters
France has launched an offshore green hydrogen production platform at the country’s Port of Saint-Nazaire this week, along with its first offshore wind farm. The hydrogen plant, which its operators say is the world’s first facility of its type, coincides with the launch of another “first of its kind” facility in Sweden dedicated to storing hydrogen in an underground lined rock cavern (LRC).
The project sets up the Hydrogen Valley in Rome, the first industrial-scale technological hub for the development of the national supply chain for the production, transport, storage and use of hydrogen for the decarbonization of industrial processes and for sustainable mobility.
At first glance, hydrogen seems to be the perfect solution to our energy needs. It doesn’t produce any carbon dioxide when used. It can store energy for long periods of time. It doesn’t leave behind hazardous waste materials, like nuclear does. And it doesn’t require large swathes of land to be flooded, like hydroelectricity. Seems too good to be true. So…what’s the catch?
