The article analyzes the hydrogen market in Europe and considers the corporate hydrogen strategies of large European oil companies in the context of an accelerating energy transition and increasing ecological pressure on oil business by regulators and green lobby. For European oil and gas companies, the development of hydrogen projects is a natural policy, since oil refining and petrochemicals will remain the largest final users of hydrogen in the foreseeable perspective. In combination with new renewable sources of energy hydrogen projects strengthen the completive advantages of oil companies in European markets. The higher are carbon taxes or/and prices of allowances on greenhouse gases emissions rise, the stronger it will stimulate oil companies to develop hydrogen projects.