Joint media release: Unlocking Australia’s hydrogen potential
The Hon Annastacia Palaszcuk MP, Premier of Queensland
The Hon Chris Bowen MP, Minister for Climate Change and Energy
The Hon Mick de Brenni, Queensland Minister for Energy, Renewables and Hydrogen
The Albanese and Palaszczuk Governments have partnered with consortium partners to deliver a $117 million investment – the largest investment in renewable hydrogen project of its kind in the nation’s history.
The historic investment will fund the Front End Engineering Design (FEED) for Queensland’s largest renewable hydrogen project, in Gladstone.
Successful completion of the FEED will bring the project one step closer to a Final Investment Decision, planned for late 2024.
The Australian Renewable Energy Agency (ARENA) will provide $20M in funding, while $15M will be provided from the Palaszczuk Government and the remainder $81.8 million from consortium partners passionate about green hydrogen.
A jointly funded venture between the Albanese and Palaszczuk Labor Governments will deliver a record near $117 million investment to fund further development of the Central Queensland Hydrogen (CQ-H2) project at Gladstone.
Independent analysis places the publicly owned mega CQ-H2 project within the top 10 hydrogen projects in the world that are at a similar stage of development.
Developing a green hydrogen export industry in Gladstone will create significant economic opportunities for Queensland, with the project expected to create almost 9,000 jobs and over $17.2 billion in hydrogen exports over its 30-year life.
The CQ-H2 project could produce 800 tonnes per day of clean, green hydrogen by the early 2030s, equivalent to fuelling more than double Australia’s heavy vehicle fleet.
Quotes attributable to Federal Minister for Climate Change and Energy, Chris Bowen:
“Projects like this are critical to scaling up Australia’s green hydrogen industry.
“The government is committed to making Australia a global hydrogen leader and projects like the CQ-H2 Project could lead the way in exporting renewable hydrogen to the international market.
“Japan, Korea and China are three of our largest trading partners and have all made clear commitments to increase the use of hydrogen, with a focus on establishing international supply chains for imports.”
Quotes attributable to the Queensland Premier, Annastacia Palaszczuk:
“This international partnership shows Queensland’s dominant position as a global hydrogen heavyweight.
“This is excellent news for Queenslanders because it’s projects like this that will unlock huge economic opportunities by creating thousands of local jobs and billions of dollars in investment.
“Because of the investments we’re making, the Queensland economy will reap the benefits of the global clean energy transition, while ensuring Queensland has more cheaper, cleaner renewable energy to power our businesses and homes.”
Quotes attributable to Queensland Minister for Energy, Renewables and Hydrogen Mick de Brenni:
“Green hydrogen is the next resource frontier for a world hungry for renewables, and it’s Queensland’s green hydrogen industry that will ensure the greatest climate, jobs, and export opportunity in a generation.
“We are writing a new chapter and carving our own path to ensure Queensland’s mighty sun, wind and water are leveraged to help decarbonise our nation, and the world.”
Quotes attributable to Stanwell CEO Michael O’Rourke:
“The advancement of this important hydrogen project is great news for Central Queensland, where the project could create thousands of jobs and deliver billions of dollars in economic benefit.
“We are proud to be leading the CQ-H2 project with our partners, which demonstrates our commitment to driving the development of Queensland’s hydrogen industry and other new technologies.”
The project will be powered by renewable energy like wind and solar.
It will produce 200 tonnes of hydrogen a day by 2028, rising up to 800 tonnes a day by 2031. The hydrogen would then be liquified or converted to ammonia for export and potentially local industry offtake.
It will complement other planned investments in a renewable hydrogen industry in the Gladstone region, including the Commonwealth Government’s Regional Hydrogen Hubs program.
The project is being funded by Federal and State Governments, with additional funding from consortium partners: Iwatani Corporation, Kansai Electric Power Company, Marubeni Corporation, Singapore’s Keppel Infrastructure and Stanwell Corporation.
Green hydrogen offers significant application in decarbonising heavy haulage, shipping, aviation, and manufacturing industries.