Oceania's Embrace of Low-Carbon Hydrogen for Industrial Decarbonisation
Key Ideas
  • Oceania, particularly Australia, is prioritizing the development of a domestic low-carbon hydrogen market to decarbonize hard-to-abate sectors like industrials and heavy transport.
  • Australia's National Hydrogen Strategy aims to position the country as a global hub for low-carbon hydrogen through incentives, initiatives, and funding programs.
  • The region has 0.9ktpa active hydrogen capacity, with Australia accounting for 98% of it, and has ambitious targets of 15mtpa hydrogen production by 2050, showcasing strong commitment.
  • Key players in Oceania's hydrogen market include companies like BP Plc, AGL Energy Ltd, and Woodside Energy Group Ltd, indicating a diverse and active industry engagement.
The Oceania region, with a focus on Australia, is strategically advancing towards a low-carbon future by emphasizing the development of a domestic hydrogen market alongside renewable energy initiatives. Australia's National Hydrogen Strategy, backed by incentives and funding programs, aims to establish the country as a key player in the global low-carbon hydrogen market. Various state-level initiatives further enhance the investment attractiveness for developing low-carbon hydrogen projects within specific regions. With 0.9ktpa active hydrogen capacity, Oceania is gearing up to scale its production significantly. The region's commitment is evident through Australia's target of 15mtpa hydrogen production by 2050, with the potential to reach 30mtpa, underlining a strong dedication to decarbonization. Additionally, Oceania's leadership role is highlighted by having the third-largest upcoming hydrogen project globally, the Western Green Energy Hydrogen Plant. Transportation remains a key sector for low-carbon hydrogen, with a substantial production capacity allocated to it. Moreover, the region's focus on sectors like ammonia, methanol, and heavy transport, which have robust global demand, showcases a strategic approach towards sectoral decarbonization and economic growth through green exports. Key players like BP Plc, AGL Energy Ltd, and Woodside Energy Group Ltd are actively engaged in Oceania's hydrogen market, reflecting a diverse industry landscape. The report provides comprehensive coverage of Oceania's low-carbon hydrogen market outlook, key projects, end-use sectors, policy frameworks, and major players, offering valuable insights for market participants looking to navigate the evolving landscape.
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