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  "documentTitle": "Global Hydrogen Flows",
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      "text": "The evolution of the global gas and liquefied-natural-gas market may have parallels with the prospective global market for hydrogen.",
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      "text": "Hydrogen sales and purchase agreements; sustainability certification\nBilateral hydrogen trade with price discovery for physical products and certificates\nExchange-based trading for physical products and certificates\nBenchmark prices for hydrogen",
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      "text": "The evolution of the global gas and liquefied-natural-gas market may have parallels with the prospective global market for hydrogen. However, the key differentiator is that the value of hydrogen is contained in both the value of the physical product and in the value of the environmental attribute—in other words, the certification.",
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      "text": "Hydrogen has a long journey to becoming a mature commodity. In the short-to-medium term, cross-border trade in hydrogen is likely to start with bilateral long-term contracts and cost-plus pricing models.",
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