Qld govt green light for hydrogen corridor

·2-min read

Queensland has begun its journey to unlocking a green energy corridor in the state's north after signing a trade memorandum of understanding with three of Korea's largest conglomerates for hydrogen exports.

The government's MOU with a hydrogen consortium consisting of companies Korea Zinc, SK Gas and Hanwha Impact together with Queensland-based Ark energy seeks to further develop the existing trade partnership with the state.

The Han-Ho Hydrogen Consortium would develop a supply chain to export more than 1 million tonnes of green ammonia from north Queensland to Korea by 2032.

The Korea Institute of Economic energy research estimates Korea's total demand for ammonia will exceed 21 million tonnes by 2030.

Queensland is already Australia's largest exporter to the north-east Asian country of any state and territory, with trade totalling $18.5 billion last financial year.

Nearly 77 per cent of those exports were coal and liquefied natural gas.

Ark Energy CEO Daniel Kim says with Korea's commitment to net zero by 2050 means jobs are now at risk, so the MOU signed is essential.

"The shared vision of this consortium is to transform the bilateral relationship between Australia and Korea from one that has been underpinned by resources and fossil fuels to renewable energy and green hydrogen," he said on Wednesday.

"We have a shared commitment to build this new green growth corridor between Australia and Korea. We want to accelerate our customers energy transitions and we want to continue to deliver prosperity in the regional communities in which we operate.

At the heart of the green energy corridor is development of Ark Energy's Collinsville green energy hub.

The precinct south of Townsville has 12 land holders already signed up and will have the potential to generate up to 3,000 megawatts.

It will become one of Australia's largest precincts, estimated to be larger than Fraser Island.

Premier Annastacia Palaszczuk said the announcement is another step forward in the state's quest to be a hydrogen powerhouse.

"We welcome this major new Consortium to Queensland - to accelerate progress in our green hydrogen industry and advance green energy exports to Korea," she said.

"What you'll be seeing over the coming decade is large renewable precincts developing in regional Queensland, that is an indisputable fact."