ENERGY TRANSITION

Australia launches A$150M H2 trade program

First round to focus on Japan

First round to focus on Japan

First round to focus on Japan

Prime minister Scott Morrison said on Friday that the A$150 million Australian Clean Hydrogen Trade Program would help Australia reduce emissions by working with other countries to reduce the cost of clean technologies. 

"It is critical that we work closely with our international partners such as Japan to deliver on Australia's low emissions objectives," Morrison said. 

"Clean hydrogen is central to both Australia's and Japan's plans to achieve net zero emissions while growing our economies and jobs."

The government said the program would support projects to develop export supply chains and commercialise production of clean hydrogen along with derivatives, such as ammonia. 

Australia and Japan committed to cooperate on low emissions technology and supply chain development in a statement signed in June last year. 

"Australia is a world leader in clean energy and our high-quality resources have long been in strong demand from our international partners," energy, emissions reduction and industry minister Angus Taylor said. 

"The Morrison government is positioning Australia to become the international clean hydrogen supplier of choice and we are investing to make this reality."

The program will be funded over five years from the A$565 million committed to low emission tech international partnerships in the 2020-21 Budget. 

The government estimates that a hydrogen industry could support some 16,000 jobs by 2050, as well as 13,000 jobs from the construction of related renewable energy infrastructure. 

An Australian hydrogen export industry could generate more than A$50 billion in additional GDP by 2050, according to government modelling. 



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