A recent report from Geoscience Australia has reinforced the country’s significant role in the global energy supply chain, according to Minister for Resources and Minister for Northern Australia Madeleine King.
Minister for Resources and Minister for Northern Australia Madeleine King said Australia’s Energy Commodity Resources (AECR) assessment 2023 shows a bright future for the local production of renewable energy
The assessment looked into Australia’s non-renewable energy resources, including gas, oil, uranium, and coal, as of the end of 2021. It also explored clean technologies such as hydrogen production and carbon capture use and storage.
“Australia is a reliable trade and investment partner with a diverse mix of energy resources, strong exports and the potential for significant renewable energy production,” King said. “While our traditional energy resources have an essential role in supporting the transition to net zero emissions, they also contribute to our future energy security.
According to the report, Australia’s production and export of energy commodities have seen a downturn in the wake of the COVID-19 pandemic. Renewable energy production, however, maintained its positive performance, with a 10.4 per cent increase.
“The Australian Government remains committed to achieving net zero emissions by 2050, and investment in new clean energy projects, including carbon capture and storage and zero and low emissions hydrogen projects, continues to grow,” Minister King added.
The number of hydrogen projects that are operational or in development in Australia also skyrocketed by 34 per cent in 2021.
These projects include the world-first Hydrogen Energy Supply Chain initiative in the Gippsland Basin, which successfully demonstrated the feasibility of producing clean liquid hydrogen from brown coal resources.
“As we look to the future, AECR provides an overview of how our geology may support hydrogen production and carbon capture and storage technology to achieve our net zero carbon emissions and decarbonise Australia’s economy,” Minister King said.
The AERC 2023 can be accessed on Geoscience Australia’s page.
