South Korean Consortium Plan to Develop a New Green Hydrogen Hub in Queensland

Must Read

Three major South Korean conglomerate groups have announced plans to build a green energy export hub in Australia’s Queensland state.

On September 21, A group of South Korean companies banded together to form the Han-Ho Hydrogen Consortium, to develop a green energy corridor connecting Queensland resources with North-East Asian consumers in Collinsville.

Queensland Green Hydrogen

The consortium has signed a Memorandum of Understanding (MoU) with the Queensland Government, which will develop a new supply chain to export over a million tonnes of green ammonia annually by 2032.

Queensland is an attractive destination for the project due to its large reserves of coal and gas, which can be used to produce hydrogen.

The state government has also supported the hydrogen industry’s development.

“We look forward to working with our partners to unlock Australia’s potential to become a large-scale producer and exporter of green hydrogen and its derivatives, including green ammonia,” Korea Zinc Vice Chairman Yun B. Choi said in the statement released by the Queensland government.

South Korean Consortium Plan

The Han-Ho Hydrogen Consortium’s plans are part of a broader trend of South Korean firms investing in Australia’s green energy sector.

Also, it is in line with the Australian government’s ambition to establish the country as a major exporter of green hydrogen.

The federal government has committed to developing a national hydrogen strategy and has targeted producing 10 gigawatts of renewable hydrogen by 2030.

Queensland is well-positioned to play a leading role in Australia’s green hydrogen industry due to its large reserves of coal and gas, which can be used to produce hydrogen.

The project is still in the early stages of development, but the potential for Queensland to become a significant player in the global hydrogen market is clear. With the support of the Queensland Government and the expertise of the Han-Ho Hydrogen Consortium, this project has the potential to transform Queensland’s economy.

- Advertisement -spot_img
Latest News
- Advertisement -spot_img

More Articles Like This

- Advertisement -spot_img