Queensland Parliament has passed legislation that will fast-track the development of the state’s hydrogen industry, creating an estimated 10,000 jobs and $33 billion in economic activity by 2040.
The Gas Supply and Other Legislation (Hydrogen Industry Development) Amendment Bill 2023 passed in Queensland Parliament on Tuesday, unlocking the potential for hydrogen to play a major role in decarbonizing the state’s economy and helping Australia reach net zero by 2050.
The Bill means that renewable hydrogen and gases can be piped safely across Queensland and to global trade partners turning to Queensland to help decarbonise their heavy haulage, shipping, aviation and industry.
Already, more than 50 hydrogen projects are underway across the state, including the Stanwell Corporation-led CQ-H2: Central Queensland Hydrogen Project in Gladstone – set to deliver $17.2 billion in hydrogen exports over 30 years.
The legislation has been welcomed by the Australian Hydrogen Council, which says it is critical for the hydrogen industry to plan and invest with confidence.
The CEO of Stanwell Corporation, Michael O’Rourke, has also welcomed the passage of the legislation, saying it is a critical step towards enabling the efficient transportation of hydrogen within Queensland and facilitating further progress in the development of this promising sector.
The passage of the Queensland Hydrogen Industry Bill is a significant milestone for the development of the hydrogen industry in Australia. The legislation will help to create jobs, attract investment, and boost exports, while also supporting Australia’s net zero goals.
The hydrogen industry has the potential to revolutionize the way we produce and consume energy. Hydrogen is a clean-burning fuel that can be used to power vehicles, generate electricity, and heat homes and businesses. It can also be used to produce synthetic fuels and chemicals.
The Queensland government is committed to developing a world-class hydrogen industry. The state has abundant renewable energy resources, which can be used to produce green hydrogen. Queensland also has a strategic location close to major Asian markets, which are increasingly looking to hydrogen to help them decarbonize their economies.
