The Queensland Government will invest $15 million to support the development of a publicly owned, large-scale hydrogen export facility in Gladstone.
Making the announcement, Deputy Premier Steven Miles said the investment in publicly owned energy corporation Stanwell will support front-end engineering and design studies for “a project that could eventually be the largest renewable hydrogen project in Queensland”.
“It has the potential to scale up to produce 800 tonnes per day of clean, green hydrogen by the early 2030s.
Treasurer and Minister for Trade and Investment Cameron Dick said Stanwell’s Gladstone project – which is being developed with international partners including Iwatani Corporation, Kawasaki Heavy Industries, Kansai Electric Power Company and Marubeni, and Australian energy infrastructure business APA Group – could be the catalyst to create up to 8900 new jobs.
“It could deliver more than $17.2 billion in hydrogen exports and $12.4 billion to Queensland’s gross domestic product over its 30-year lifespan,” the Treasurer added.
Minister for Hydrogen Mick de Brenni said global markets were “increasingly hungry for green hydrogen to help meet their decarbonisation ambitions”.
“Every credible expert is saying that renewable energy is the biggest opportunity since the industrial revolution. And Queensland, with its abundance of sunshine, wind and potential for pumped hydro energy storage, is in prime position to satiate an increasingly hungry world hydrogen market,” he continued.
“This $15 million in fast-tracked funding – through the $2 billion Queensland Renewable Energy and Hydrogen Jobs Fund – will also help future planning for supply chain and workforce opportunities. It builds on a feasibility study already completed into the Gladstone project, which would also supply large industrial customers in the Central Queensland region.
“This new funding will help provide the detail required to support a final investment decision.”
