Metals and mining Decarbonization August 24, 2022As European steelmakers look to decarbonize production, the price of natural gas and CO2 emissions could have a significant impact on the cost competitiveness of greener options. For example, when examining the cost competitiveness of three potential approaches, a path based on green hydrogen—a replacement for natural gas in certain production methods—used in combination with direct-reduced-iron and electric-arc-furnace processes is already cost competitive at a natural-gas price of €15 per gigajoule and a CO2 price of €100 per metric ton. We strive to provide individuals with disabilities equal access to our website. If you would like information about this content we will be happy to work with you. Please email us at: McKinsey_Website_Accessibility@mckinsey.com To read the article, see “Safeguarding green steel in Europe: Facing the natural-gas challenge,” June 21, 2022.