Federal investment brings certainty to gas and minerals: Australia’s peak body

The Australian mining, oil and gas industry welcomed the newly announced federal grants for hundreds of millions of dollars worth of fossil fuel and minerals projects in Western Australia (WA).

Damian Dwyer, Deputy Chief Executive Officer of the Australian Petroleum Production Exploration Association, said: New investment It reflects the federal government’s perception of the importance of gas in the coming decades.

“This greater certainty to the industry will be important for Australia’s economic recovery and its commitment to decarbonization as part of the future of cleaner energy,” Dwyer said in a comment. I mentioned in.

In addition to starting new developments in fossil fuels, support packages will improve the supply of key minerals used in wind and solar components, pumped storage widgets, electric vehicle batteries, defense and communications technologies.

In particular, the federal government has invested $ 140 million (US $ 103 million) in two new hydrogen hubs in Pilvara and Kwinana, Washington, with an additional $ 6 million in two other early-stage hydrogen projects. To do.

One started by BP Australia and the other by the WA government, the two new hydrogen hubs will create more than 3,600 jobs and attract more than $ 410 million in investment from the private and public sector. Expected.

National strategy predicts that hydrogen production for export and domestic use could bring Australia more than $ 50 billion in additional GDP by 2050.

Epoch Times Photo
Australia’s Prime Minister Scott Morrison will drive a hydrogen-powered car on a Toyota test truck in Melbourne, Australia, on November 9, 2021. (Via WilliamWest / AFP, Getty Images)

Meanwhile, the government has secured approximately $ 60 million to develop two carbon capture and storage hubs in Burlap and the Midwest, and $ 7 million to explore the possibility of establishing a third site in the Carnarvon basin. Secure.

Prime Minister Scott Morrison said Burlap and the Midwest hub will reduce annual greenhouse gas emissions by 7.4 million tons from 2028, attract more than $ 1 billion in investment and create more than 2,000 jobs. ..

In addition to WA’s $ 8 million spending on the key minerals sector, another notable investment is 50 million to establish a new business and research partnership focused on the key minerals supply chain. It’s a dollar program.

In this project, Curtin University will work with the University of Queensland, James Cook University, and 33 business representatives to give Australia a competitive advantage in key areas such as nickel, cobalt, and lithium supplies. To develop.

In light of the subsidies announced by the federal government, the Prime Minister said Australia would witness an increase in employment and an improvement in the supply chain sector.

“WA is a world leader in key minerals and these investments are just the beginning of our commitment to this sector.” He said..

“These investments also promote the development of Australia’s key mineral and clean hydrogen industry and achieve the government’s vision to make Australia a global producer and exporter of clean hydrogen by 2030. It will help. “

Alfred buoy


Alfred Bui is a Melbourne-based Australian reporter with a focus on local and business news. He is a former small business owner and holds two master’s degrees in business and business law. Contact him at [email protected]