Latest news with #Stanwell
Reuters
04-07-2025
- Business
- Reuters
Australia pledges $283 million to Orica green hydrogen project as industry wavers
SYDNEY, July 4 (Reuters) - Australia said on Friday it would invest A$432 million ($283.82 million) in a green hydrogen project led by Orica ( opens new tab, the world's largest explosives maker, backing the emerging industry amid a wave of delays and cancelled projects across the country. The funding will support the Hunter Valley Hydrogen Hub, which aims to decarbonise Orica's nearby ammonia and explosives manufacturing operations and eventually supply the green fuel and green ammonia for export. Climate Change and Energy Minister Chris Bowen said the funding for the project on the east coast helped secure Australia's energy future, with the government seeing green hydrogen as key to its net-zero goals. 'By switching from gas to green hydrogen, the project will also significantly cut emissions from Orica's ammonia production facility and help produce green ammonia for domestic use across mining, agriculture and manufacturing sectors,' Bowen said in a statement. It is a boost for Australia's struggling green hydrogen industry after a series of delays and exits cast doubt on its viability. On Sunday, plans to build a A$12.5 billion CQ-H2 plant in the state of Queensland collapsed after its lead developer, state-government owned energy company Stanwell, ended its involvement. It was one of the country's largest and most advanced projects. Orica's Hunter Valley Hydrogen Hub, once a joint venture with Origin Energy ( opens new tab, faced a major setback last year when the power producer exited, citing cost concerns and headwinds in the green hydrogen market. Orica said the government support was 'essential' to bridging the project's 'commercial gap'. The explosives maker added that it had received strong interest from potential project partners in the past few months and would work towards a final investment decision 'in due course'. 'We hope to further contribute to our domestic and international customers' decarbonisation goals by offering low-carbon products, while supporting Orica's next phase of decarbonisation,' CEO Sanjeev Gandhi said. The first phase of the hub is expected to produce up to 12 tonnes of green hydrogen per day using a 50 megawatt electrolyser powered by renewable energy. ($1 = 1.5221 Australian dollars)
Nikkei Asia
02-07-2025
- Business
- Nikkei Asia
Australia's green hydrogen ambitions in doubt as CQ-H2 plant stalls
Energy Project unable to move forward after conservative state government ends support The CQ-H2 project aimed to produce 300,000 metric tons of hydrogen annually using renewable energy from 2031. (Stanwell) RURIKA IMAHASHI SYDNEY -- Australia's largest project to produce green hydrogen with renewable energy is unable to move forward, hampered by a new conservative state government that is unwilling to shoulder the high costs. Multiple people familiar with the CQ-H2 project in Queensland that had been led by state-owned power company Stanwell confirmed it has stalled. Stanwell issued a statement saying it had "discontinued its involvement in the [CQ-H2] project and other hydrogen development activities."
The Advertiser
30-06-2025
- Business
- The Advertiser
Multi-billion dollar green hydrogen project evaporates
A project once touted to produce 800 tonnes of green hydrogen a day by the end of the decade is dead following the collapse of an international consortium. The Central Queensland Hydrogen Project in Gladstone will not go ahead, with Queensland's state-owned Stanwell Corporation confirming its end in the project. "Stanwell has discontinued its involvement in the Central Queensland Hydrogen Project (CQ-H2) project and other hydrogen development activities," the corporation said in a statement. "The CQ-H2 project has been a valuable international collaboration that has provided important technical and commercial knowledge to support the future large-scale commercialisation of renewable hydrogen." Queensland's government announced earlier in 2025 it would not extend any further loans or grants to the project. Treasurer David Janetzki said a fundamental principle of his budget handed down last week was "respect for taxpayer money". "And I made the decision in February that that project in particular, was speculative in nature, and I didn't want to see the precious taxpayer dollar tipped into it," he told reporters on Monday. "I think ... other private sector proponents have looked at it and now the consortium has made a decision to step aside from that project." Federal Energy Minister Chris Bowen said the news comes as no surprise but expressed disappointment. "I think it's a sad day for Gladstone," he told reporters on Monday. "Hundreds of jobs that would have been created now won't be created because of that decision." The hydrogen plant and pipeline was expected to cost $12.5 billion in 2019 before blowing out to nearly $15 billion in 2022. Initial project estimates indicated it could deliver almost 9000 jobs and more than $17.2 billion in hydrogen exports over its 30-year life through gaseous renewable hydrogen converted to renewable ammonia and liquefied hydrogen for export. A project once touted to produce 800 tonnes of green hydrogen a day by the end of the decade is dead following the collapse of an international consortium. The Central Queensland Hydrogen Project in Gladstone will not go ahead, with Queensland's state-owned Stanwell Corporation confirming its end in the project. "Stanwell has discontinued its involvement in the Central Queensland Hydrogen Project (CQ-H2) project and other hydrogen development activities," the corporation said in a statement. "The CQ-H2 project has been a valuable international collaboration that has provided important technical and commercial knowledge to support the future large-scale commercialisation of renewable hydrogen." Queensland's government announced earlier in 2025 it would not extend any further loans or grants to the project. Treasurer David Janetzki said a fundamental principle of his budget handed down last week was "respect for taxpayer money". "And I made the decision in February that that project in particular, was speculative in nature, and I didn't want to see the precious taxpayer dollar tipped into it," he told reporters on Monday. "I think ... other private sector proponents have looked at it and now the consortium has made a decision to step aside from that project." Federal Energy Minister Chris Bowen said the news comes as no surprise but expressed disappointment. "I think it's a sad day for Gladstone," he told reporters on Monday. "Hundreds of jobs that would have been created now won't be created because of that decision." The hydrogen plant and pipeline was expected to cost $12.5 billion in 2019 before blowing out to nearly $15 billion in 2022. Initial project estimates indicated it could deliver almost 9000 jobs and more than $17.2 billion in hydrogen exports over its 30-year life through gaseous renewable hydrogen converted to renewable ammonia and liquefied hydrogen for export. A project once touted to produce 800 tonnes of green hydrogen a day by the end of the decade is dead following the collapse of an international consortium. The Central Queensland Hydrogen Project in Gladstone will not go ahead, with Queensland's state-owned Stanwell Corporation confirming its end in the project. "Stanwell has discontinued its involvement in the Central Queensland Hydrogen Project (CQ-H2) project and other hydrogen development activities," the corporation said in a statement. "The CQ-H2 project has been a valuable international collaboration that has provided important technical and commercial knowledge to support the future large-scale commercialisation of renewable hydrogen." Queensland's government announced earlier in 2025 it would not extend any further loans or grants to the project. Treasurer David Janetzki said a fundamental principle of his budget handed down last week was "respect for taxpayer money". "And I made the decision in February that that project in particular, was speculative in nature, and I didn't want to see the precious taxpayer dollar tipped into it," he told reporters on Monday. "I think ... other private sector proponents have looked at it and now the consortium has made a decision to step aside from that project." Federal Energy Minister Chris Bowen said the news comes as no surprise but expressed disappointment. "I think it's a sad day for Gladstone," he told reporters on Monday. "Hundreds of jobs that would have been created now won't be created because of that decision." The hydrogen plant and pipeline was expected to cost $12.5 billion in 2019 before blowing out to nearly $15 billion in 2022. Initial project estimates indicated it could deliver almost 9000 jobs and more than $17.2 billion in hydrogen exports over its 30-year life through gaseous renewable hydrogen converted to renewable ammonia and liquefied hydrogen for export. A project once touted to produce 800 tonnes of green hydrogen a day by the end of the decade is dead following the collapse of an international consortium. The Central Queensland Hydrogen Project in Gladstone will not go ahead, with Queensland's state-owned Stanwell Corporation confirming its end in the project. "Stanwell has discontinued its involvement in the Central Queensland Hydrogen Project (CQ-H2) project and other hydrogen development activities," the corporation said in a statement. "The CQ-H2 project has been a valuable international collaboration that has provided important technical and commercial knowledge to support the future large-scale commercialisation of renewable hydrogen." Queensland's government announced earlier in 2025 it would not extend any further loans or grants to the project. Treasurer David Janetzki said a fundamental principle of his budget handed down last week was "respect for taxpayer money". "And I made the decision in February that that project in particular, was speculative in nature, and I didn't want to see the precious taxpayer dollar tipped into it," he told reporters on Monday. "I think ... other private sector proponents have looked at it and now the consortium has made a decision to step aside from that project." Federal Energy Minister Chris Bowen said the news comes as no surprise but expressed disappointment. "I think it's a sad day for Gladstone," he told reporters on Monday. "Hundreds of jobs that would have been created now won't be created because of that decision." The hydrogen plant and pipeline was expected to cost $12.5 billion in 2019 before blowing out to nearly $15 billion in 2022. Initial project estimates indicated it could deliver almost 9000 jobs and more than $17.2 billion in hydrogen exports over its 30-year life through gaseous renewable hydrogen converted to renewable ammonia and liquefied hydrogen for export.
West Australian
30-06-2025
- Business
- West Australian
Multi-billion dollar green hydrogen project evaporates
A project once touted to produce 800 tonnes of green hydrogen a day by the end of the decade is dead following the collapse of an international consortium. The Central Queensland Hydrogen Project in Gladstone will not go ahead, with Queensland's state-owned Stanwell Corporation confirming its end in the project. "Stanwell has discontinued its involvement in the Central Queensland Hydrogen Project (CQ-H2) project and other hydrogen development activities," the corporation said in a statement. "The CQ-H2 project has been a valuable international collaboration that has provided important technical and commercial knowledge to support the future large-scale commercialisation of renewable hydrogen." Queensland's government announced earlier in 2025 it would not extend any further loans or grants to the project. Treasurer David Janetzki said a fundamental principle of his budget handed down last week was "respect for taxpayer money". "And I made the decision in February that that project in particular, was speculative in nature, and I didn't want to see the precious taxpayer dollar tipped into it," he told reporters on Monday. "I think ... other private sector proponents have looked at it and now the consortium has made a decision to step aside from that project." Stanwell had requested $1 billion from the government in February to continue the project, which was ultimately rejected. Federal Energy Minister Chris Bowen said the news comes as no surprise but expressed disappointment. "I think it's a sad day for Gladstone," he told reporters on Monday. "Hundreds of jobs that would have been created now won't be created because of that decision." The hydrogen plant and pipeline was expected to cost $12.5 billion in 2019 before blowing out to nearly $15 billion in 2022. Initial project estimates indicated it could deliver almost 9000 jobs and more than $17.2 billion in hydrogen exports over its 30-year life through gaseous renewable hydrogen converted to renewable ammonia and liquefied hydrogen for export.
Perth Now
30-06-2025
- Business
- Perth Now
Multi-billion dollar green hydrogen project evaporates
A project once touted to produce 800 tonnes of green hydrogen a day by the end of the decade is dead following the collapse of an international consortium. The Central Queensland Hydrogen Project in Gladstone will not go ahead, with Queensland's state-owned Stanwell Corporation confirming its end in the project. "Stanwell has discontinued its involvement in the Central Queensland Hydrogen Project (CQ-H2) project and other hydrogen development activities," the corporation said in a statement. "The CQ-H2 project has been a valuable international collaboration that has provided important technical and commercial knowledge to support the future large-scale commercialisation of renewable hydrogen." Queensland's government announced earlier in 2025 it would not extend any further loans or grants to the project. Treasurer David Janetzki said a fundamental principle of his budget handed down last week was "respect for taxpayer money". "And I made the decision in February that that project in particular, was speculative in nature, and I didn't want to see the precious taxpayer dollar tipped into it," he told reporters on Monday. "I think ... other private sector proponents have looked at it and now the consortium has made a decision to step aside from that project." Stanwell had requested $1 billion from the government in February to continue the project, which was ultimately rejected. Federal Energy Minister Chris Bowen said the news comes as no surprise but expressed disappointment. "I think it's a sad day for Gladstone," he told reporters on Monday. "Hundreds of jobs that would have been created now won't be created because of that decision." The hydrogen plant and pipeline was expected to cost $12.5 billion in 2019 before blowing out to nearly $15 billion in 2022. Initial project estimates indicated it could deliver almost 9000 jobs and more than $17.2 billion in hydrogen exports over its 30-year life through gaseous renewable hydrogen converted to renewable ammonia and liquefied hydrogen for export.
