Queensland's $4 Million Budget Allocation for Natural Hydrogen Exploration
Key Ideas
  • The 2024–25 State Budget will allocate $4 million to investigate the potential of the natural hydrogen industry in Queensland.
  • Queensland aims to leverage natural hydrogen along with green hydrogen to move towards a net-zero future and achieve a renewable energy target of 70% by 2032.
  • The investment is part of a larger $90 million commitment to support Queensland's resources and natural resources sectors, aiming to create more jobs and lower living costs.
  • Government officials expressed optimism about Queensland's ability to develop a green hydrogen industry, highlighting the state's favorable conditions for clean electricity generation.
The Queensland Government has announced a $4 million allocation in the upcoming 2024–25 State Budget to explore the potential of the natural hydrogen industry in the state. This initiative is in line with Queensland's efforts to transition towards a net-zero future and reach a renewable energy target of 70% by 2032. Queensland Minister for Resources and Critical Minerals, Scott Stewart, emphasized that this investment aims to position Queensland strategically in the evolving landscape of new industries and technologies as the world undergoes decarbonization. The study on natural hydrogen extraction is part of a broader $90 million Budget commitment to support Queensland's resources and natural resources sectors. Officials highlighted Queensland's reputation for innovation and willingness to embrace new frontiers, stressing the state's advantageous conditions such as abundant sunshine and favorable winds for green hydrogen production. Mackay MP, Julieanne Gilbert, emphasized the positive impact of this budget allocation on the residents of Mackay, mentioning benefits like reduced living costs, affordable power, transport, and housing. Gilbert highlighted the role of government ownership of power assets in providing discounts on power bills and emphasized that investing in emerging industries like clean hydrogen contributes to job creation and economic diversification. Overall, the focus on exploring natural hydrogen extraction in Queensland reflects a positive sentiment towards harnessing innovative solutions for sustainable energy generation and economic growth.
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