ITOCHU Corporation has entered into an agreement with Dalrymple Bay Infrastructure, North Queensland Bulk Ports Corporation, and Brookfield Asset Management to conduct a joint feasibility study on the production and storage of green hydrogen in Australia, as well as the establishment of a supply chain for green hydrogen export from the country.
Under the terms of this Memorandum of Understanding, the parties will jointly investigate the feasibility of producing and storing green hydrogen on port land at the Dalrymple Bay Terminal (hereinafter “DBT”), which is owned by the Queensland state government and operated by DBI, as well as the feasibility of establishing a supply chain for green hydrogen that includes exporting it via DBT’s existing export facilities. The feasibility study will be completed in phases, with Phase I slated to begin in 2021.
DBT is garnering interest as a green hydrogen manufacturing facility because to its location in the heart of a Renewable Energy Zone, a state-designated area in Queensland, Australia for renewable energy development. Hay Point, including DBT, has been recognized by the Queensland state government as a priority port for sustainable development, and DBT already has export infrastructure that can be enhanced and expanded to construct hydrogen export facilities. As a result, DBT is a great place for establishing a sustainable hydrogen supply chain.
ITOCHU’s medium-term management strategy includes “Improve our contribution to and engagement with the SDGs” as one of its Basic Policies. ITOCHU intends to use its domestic and international networks, as well as the experience gained through its operations in Australia, to develop a green hydrogen supply chain, including future delivery to Japan, in order to contribute to a decarbonized society.