Queensland government wants Japanese investment to help power its hydrogen revolution
Queensland deputy premier Steven Miles is leading a trade mission in Japan this week to encourage investment in the state’s hydrogen sector.
Business
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Japanese investors have long played a critical role in developing Queensland’s abundant fossil fuel resources.
Now the state government is seeking Japanese investment to help power its clean energy efforts, especially in hydrogen.
Queensland deputy premier Steven Miles, who is in Japan this week leading a trade mission, told a business leaders reception Monday that the state has already committed $2bn to back a “renewable energy and hydrogen jobs fund’’.
Coincidentally, he noted that it was Japan that “planted the seed’’ of the state’s hydrogen revolution when Premier Annastacia Palaszczuk met with Japanese experts in the field in 2018.
“In 2019 we made our first delivery of green hydrogen to Japan,’’ Dr. Miles said.
“And following the release of our hydrogen strategy, we commenced construction on a record number of projects and began the task of upskilling our people to deliver this new industry.
“Fast forward three years and today I am here with you to meet with some of Japan’s leading renewable energy companies because we are ready to do so much more.
“We have 34 large-scale renewable energy projects operational in Queensland and a further 14 under construction or financially committed to, with a high concentration in the Central Queensland Renewable Energy Zone.”
Dr. Miles, who travelled with executives from government-owned Stanwell Energy Corporation, expects to meet with about 100 investors over the course of his trip.
Stanwell chief executive Michael O’Rourke said his company was already “keenly focused on international partnership and export opportunities’’.
“Through our Central Queensland Hydrogen Project, we are working with major Japanese and Australian partner companies to establish a renewable hydrogen supply chain from Central Queensland to Japan,’’ he said.
Dr. Miles stressed to investors that Queensland has already proved that it can take a new technology and convert natural gas into a form suitable for shipment overseas to Japan.
“The establishment and growth of our Liquefied Natural Gas industry – of which Japan was an early investor – prove the benefits of Queensland’s approach to industry development,’’ he told the group.
“One that leverages government’s wholehearted commitment along with state ownership of port, land, water, generation and transmission assets.
“We intend to now replicate that success with hydrogen. We will grow a thriving commercial scale renewable hydrogen ecosystem to not only power more jobs in more industries in Queensland but to also give our friends around the world access to competitively priced green energy.”
Dr. Miles said he also planned to meet with experts in Olympics infrastructure, following the Tokyo games last year and in the lead up to the 2032 games in Brisbane.
Originally published as Queensland government wants Japanese investment to help power its hydrogen revolution
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