India to play leading role in growing world hydrogen economy

India is set to play a pivotal role in the evolving hydrogen economy, with significant commitments from its public sector undertakings (PSUs) in the oil and gas sector, said Hardeep Singh Puri, India's Minister of Petroleum and Natural Gas, during a talk at the inaugural World Hydrogen India Summit in Delhi Sept. 25, as per Chemweek.

India will make sure that hydrogen is not just a fuel of the future but also a pillar of energy security, economic competitiveness and environmental stewardship, Puri said during the talk.

India's PSUs have announced plans to establish around 1 million metric tons per year of green hydrogen capacity by 2030, Puri said. This initiative underscores India’s strategic focus on sustainable energy solutions and its commitment to reducing carbon emissions, he said.

Indian energy sector PSUs have initiated tenders for a capacity of 170,000 metric tons per year under a “Build Own Operate” model to accelerate hydrogen production, according to Puri.

Meanwhile, India’s National Green Hydrogen Mission has made significant progress by awarding approximately 900,000 metric tons per year of green hydrogen production capacity to 19 companies, he said.

The National Green Hydrogen Mission is a government initiative that aims to establish the country as a global hub for green hydrogen production, usage and export.

In 2021, India set an ambitious target of producing 5 million metric tons of green hydrogen per year by 2030, supported by a strong policy framework and significant financial investment, Puri said. The government is also developing measures to bolster the manufacturing of electrolyzers and green hydrogen, Puri added.

According to India’s Ministry of New & Renewable Energy, a major financial initiative under the National Green Hydrogen Mission is the Strategic Interventions for Green Hydrogen Transition (SIGHT), which has an outlay of 174.9 billion Indian rupees ($1.9 billion). The SIGHT program allocates 44.4 billion rupees for domestic manufacturing of electrolyzers and 130.5 billion rupees for green hydrogen production.

For Dave Ernsberger, co-president at S&P Global Commodity Insights, India's National Green Hydrogen Mission is emerging as a crucial component of the global shift toward cleaner energy and energy independence.

Ernsberger said during his keynote address at the summit that India is a leader in the development of green hydrogen, and he highlighted the country’s renewable resources and asset base. He added that collaboration among the country’s private sector, public sector, government and traders is necessary to propel this rapidly growing industry forward.

The World Hydrogen India Summit, organized by S&P Global Commodity Insights, brings together senior executives, policymakers and investors to address the critical challenges and opportunities defining the sector’s trajectory.

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On Wednesday, ethylene prices edged lower in Northeast Asia, while remaining stable in Southeast Asia, as per Polymerupdate.

CFR North East Asia ethylene prices on Wednesday were assessed at the USD 835-845/mt levels, down USD (-5/mt) from Tuesday's assessed levels. An industry source in Asia while requesting to remain unidentified informed a Polymerupdate team member, "Ethylene prices fell on the back of bearish regional demand trends."

Meanwhile, CFR South East Asia ethylene prices on Wednesday were assessed at the USD 835-845/mt levels, unchanged day on day.

In plant news, PetroChina Fushun Petrochemical is in plans to resume production at its High density polyethylene (HPDE) unit around October 4, 2025, following a turnaround. The unit was shut around August 15, 2025, for maintenance. However, confirmation from an authorized source has not been obtained. Located in Fushun, China, the HDPE unit has a production capacity of 350,000 mt/year.

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On Tuesday, styrene monomer (SM) prices edge lower in Asia, as per Polymerupdate.

An industry source in Asia informed a Polymerupdate team member, "SM prices were assessed lower in line with weaker upstream benzene values coupled with bearish market sentiments in the Asian region."

On Tuesday, FOB Korea SM prices were assessed at the USD 835-845/mt levels, a fall of USD (-5/mt) from Monday.

CFR China SM prices were assessed at the USD 845-855/mt levels, down USD (-5/mt) from Monday?s assessed levels.

Meanwhile, upstream benzene prices on Tuesday were assessed at the USD 700-710/mt FOB Korea levels, a drop of USD (-5/mt).

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The European Federation for Construction Chemicals (EFCC), together with several European industry associations, is calling on EU legislators to adopt quickly the European Commission’s proposal to postpone the application of the Classification, Labelling and Packaging (CLP) Regulation’s labeling requirements in an open letter to the Environment Committee of the European Parliament on Sept. 22, as per Chemweek.

The swift adoption of the so-called “CLP stop-the-clock” proposal through the simplified procedure would provide industry with better legal certainty and predictability for investments while the details of the Chemicals Omnibus are under discussion, EFCC said.

“Clear timelines are vital to ensure fair competition across the market. The current uncertainty around labelling obligations risks creating unequal conditions for companies, depending [on] their compliance timeframe,” it said.

EFCC added that legal certainty is crucial to avoid premature and potentially unnecessary investments, prepare for possible legislative changes and preserve fair competition.

The European Chemical Industry Council, the European Association of Chemical Distributors, the Association of the European Adhesive & Sealant Industry and the European Council of the Paint, Printing Ink and Artists’ Colors Industry are among the letter’s signatories.

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The Trump administration is reevaluating a $2.26 billion loan for Lithium Americas Corp.'s Thacker Pass lithium project in Nevada, as per Chemweek.

The Biden administration approved the loan in 2024 under the DOE's Loan Programs Office (LPO). The funds will be used to build processing facilities at Thacker Pass, which hosts the world's third-largest lithium reserves and resources, based on S&P Global Market Intelligence data.

"DOE is utilizing a variety of tools, including the Loan Programs Office, to strengthen domestic supply chains for critical minerals and unleashing American energy dominance," the DOE spokesperson said in a statement. "We are continuing to evaluate the LPO portfolio to ensure our limited taxpayer resources are used to advance [the] best interests of the American people and generate a return on investment."

Lithium Americas told Platts that it remains in active discussions with the DOE and project partner, General Motors Co., regarding the department’s review.

The loan is a key part of the financing to advance Thacker Pass, General Motors told Platts. In October 2024, the automaker agreed to invest $625 million to acquire a 38% stake in the project, allowing the company to secure supplies of the mineral used in electric vehicle batteries.

"During his first term, [President Donald Trump] strongly supported the development of Nevada's Thacker Pass mine," General Motors said in a statement. "We're confident in the project, which supports the administration's goals, and have committed almost $1 billion to its development, including a nearly $200 million letter of credit."

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