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Energy & Infrastructure Insight - Issue 4

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S H E A R M A N & S T E R L I N G L L P | 1 5 CONCLUSION Hydrogen is increasingly recognized as one of the key elements in the global effort to reduce carbon emissions. However, the transition from an energy mix dominated by conventional fossil fuels to a carbon-neutral energy mix in which hydrogen plays a meaningful role will require the creation of a whole new market and the leadership of key industry players. As one of the first supporters of hydrogen and with multiple demonstration projects in development and operation domestically and abroad, we believe Japan will play a pivotal role in the creation of this new market and the unlocking of a vibrant and impactful global hydrogen value chain. This article first appeared in Project Finance International on April 22, 2021. Jean-Louis Neves Mandelli Partner Singapore T +65 6230 3834 jean-louis.nevesmandelli@shearman.com Naomi King Consultant Tokyo T +81 3 5251 0217 naomi.king@shearman.com Etienne Gelencsér Partner Tokyo T +81 3 5251 0209 etienne.gelencser@shearman.com Karl J. Pires Partner Tokyo T +81 3 5251 0218 karl.pires@shearman.com

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