Photo by: Bloomberg
PERTH (miningweekly.com) – The Australian Parliament this week passed the Offshore Petroleum and Greenhouse Gas Storage (OPGGS) Amendment Bills amending the OPGGS Act 2006, which could pave the way for a new hydrogen industry in Australia.
The Amendment Bills were now awaiting royal assent.
“As Australia emerges from the Covid-19 pandemic and begins the process of economic recovery, it’s even more crucial that we ensure that our regulatory approvals support, not hinder, major projects. These amendment achieve that,” Minister for Resources, Water and Northern Australia Keith Pitt said.
“The abundant brown coal resources of the Latrobe Valley are ideal feedstock for one of the world’s first hydrogen export industries based on coal, generating new jobs and business opportunities in a regional area that has been suffering with the closure of the Hazelwood power station.
“The CarbonNet project will provide the required carbon capture and storage (CCS) for the development of the low emissions Hydrogen Energy Supply Chain project.
“CarbonNet has been investigating the feasibility for a commercial-scale, multi-user CCS network in Gippsland, Victoria, and the Bills that passed through parliament remove one of the technical issues around the project.
“A proposed site straddles the boundary of state and commonwealth waters and the Bill amends and clarifies the regulatory framework to help unlock the development of more projects in the Latrobe Valley – providing a cost-effective pathway to low emissions.”
Amendments in the Bill will also provide stronger powers to the National Offshore Petroleum Safety Environmental Management Authority to fully respond in the unlikely event of an oil spill that crosses into state waters.
The proposed amendments comes shortly after the Australian government announced the establishment of a A$300-million Advancing Hydrogen Fund that will finance projects focused on growing a clean, innovative and competitive hydrogen industry in Australia.
The fund will back projects that align with priorities under the National Hydrogen Strategy, including in areas such as advancing hydrogen production, developing export and domestic supply chains, establishing hydrogen hubs and backing projects that build domestic demand for hydrogen.