Page 12 - AsianOil Week 39
P. 12
AsianOil OCEANIA AsianOil
Australian Energy Minister Angus Taylor unveils the government’s hydrogen strategy. Image: Canberra Times
Vision 2050: Delivering a Clean Energy makes sense that it would also want to ensure
Future”, is that net-zero emissions can be that billions are not wasted in the support of an
reached with hydrogen at half the cost of full industry that a shift towards renewables threat-
electrification. ens to make obsolete.
Energy Networks Australia’s acting CEO, Australian Prime Minister Scott Morrison
Tamatha Smith, said: “Policy settings aimed announced in mid-September a slew of gas-fo-
at reducing emissions should recognise that cused measures aimed at helping the economy to
continuing to use gas infrastructure is the low- recover from the pandemic-induced recession.
est-cost option to reach net-zero emissions from Among these were plans to “reset” the East Coast
the energy sector by 2050.” gas market by encouraging both upstream and
Australian Petroleum Production and mid-stream development.
Exploration Association (APPEA) CEO Morrison committed AUD28.3mn ($20.66mn)
Andrew McConville said: “The report high- of Commonwealth funding to find ways to unlock
lights the vital role of natural gas in emissions five key gas basins, starting with the Northern
reduction through fuel switching from more Territory’s Beetaloo Basin as well as Queensland’s
emissions-intensive fuels to gas. Gas is also North Bowen and Galilee basins.
one of Australia’s most important exports, Morrison is convinced that the key to the
contributing AUD47bn [$33.04bn] to our country’s future economic success lies in boost-
economy in 2019-20.” ing domestic manufacturing with cheap gas
Canberra released its National Hydrogen supplies. It is an ideology first promoted by the
Strategy in November 2019, making clear its National COVID-19 Commission Advisory
goals around developing a leading hydrogen Board (NCC), which has itself been questioned
industry. Since then the government has taken over its lack of support for renewable energy
several important steps forward. solutions.
Australia agreed in early September to con- When pressed by a Senate committee in
duct a joint study with Germany on the devel- August, NCC head Neville Power said his panel
opment of a hydrogen supply chain between the had not looked at renewable energy in the wide
two countries. Australian Trade Minister Simon energy context and that it was not the commis-
Birmingham described the agreement at the sion’s role to “recommend specific projects”.
time as “critical” to developing “Australia’s future By leaving the door open to blue hydro-
as a powerhouse in clean energy exports”. gen coupled with CCS, the Australian gov-
The agreement follows a similar deal signed at ernment may have found a way to support
the start of the year with Japan, and another with the upstream industry in both the short,
South Korea in November 2019. mid and long term. It remains to be seen
Australia, which last year took the global top how the technology holds up and whether it
spot in terms on LNG exports, needs to future- can match Canberra’s aspirations.
proof its gas industry amid an increasing push by
the world’s biggest importers to embrace alter-
native fuels. Global affairs
To read more about events in the global
What next hydrogren indsutry, please see the latest
Given that the federal government has already edition of NRG on Page 13.
committed to a gas-led economic recovery, it
P12 www. NEWSBASE .com Week 39 01•October•2020