; it is a document aimed at fostering development.
"This week, Energy Ministers of APEC economies will meet. On the occasion, the approval of two documents will be sought: one is the Energy Ministerial Declaration, and the other is the policy guide for the use of low-emission hydrogen in the Asia-Pacific region," he told Andina News Agency on Wednesday.
The diplomat explained that it is an industry linked to the chemical, oil, transportation, and steel production sectors, among others.
"What we aim to do is create a new source of renewable clean energy," he said.
The ambassador explained that this policy guide for the use of low-emission hydrogen will contain a series of public policy recommendations for the development of this industry in APEC economies.
"What this is primarily about is reaching some consensus on the need to harmonize certifications, regulations, and standards in this new industry, (as well as addressing) financial sources and the technological challenges it will entail," he indicated.
However, Vasquez mentioned that it is an industry requiring large amounts of water because it undergoes an electrolysis process, which implies a series of challenges.
Sensitive issue
Considering that water is a very sensitive issue, Ambassador Vasquez remarked that this industry's development should overcome a series of challenges for all APEC economies.
"What matters is to explore how we can develop a way because it can decarbonize key industries such as the chemical, cement, and transportation ones in general," the SOM chairman said.
Although this is an industry that needs to be developed, it is important to rely on a series of elements that allow for harmonizing policies applied across the 21 APEC economies, in order to also achieve a market that supports the production, distribution, and export of hydrogen as an energy source, Vasquez added.
"The fact that it is water intensive is a problem, but there are a number of possibilities for using seawater for this industry through a desalination process. There are technological challenges that this industry needs to overcome," he mentioned.
Less pollution
It should be noted that Peru is seeking to develop less polluting economic activities, through initiatives such as the promotion of green hydrogen, a priority for the Peruvian Presidency at APEC 2024.
While grey hydrogen is generated from natural gas or methane, low-carbon hydrogen is produced through electrolysis powered by renewable energy sources such as wind or solar, or fossil fuels combined with carbon capture and storage.
In this sense, the global economic trend is to converge towards cleaner energy sources.