NO PLACE FOR PETROPHILES TO HIDE:

Hydrogen has a key role to play in the years ahead, especially in industrial applications, according to the CEO of German power company RWE.

"When you look long term, there is no way around hydrogen," Markus Krebber, who was speaking to CNBC's Annette Weisbach, said.

In an interview broadcast Tuesday morning, Krebber claimed this was because hydrogen was "the only technology ... we currently know which is able to decarbonize those industries which cannot electrify like steel, but also some parts of the chemical industry." [...]

Krebber told CNBC that it would take time to build a hydrogen economy and that his company wanted to -- and would -- play an active role. "But we need to be fast, because I think wherever green hydrogen is available it is a very competitive edge for the location."

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