Australia signs hydrogen deal with Germany
Christian Fernsby ▼ | September 12, 2020
Australia has signed a landmark deal with Germany to explore the potential for future hydrogen exports.Article continues below
Topics: AUSTRALIA GERMANY
The Australian government said on Thursday that it will begin a feasibility study with Germany into a hydrogen supply chain between the two countries.
The deal is a major boost for Australia's hydrogen industry, which experts say could be worth between 11 and 26 billion Australian dollars (about 8 to 19 U.S. dollars) per year by 2050.
Minister for Trade, Tourism and Investment Simon Birmingham said the partnership was "critical" to developing "Australia's future as a powerhouse in clean energy exports."
"Exploring opportunities for future collaboration on commercial-scale operations and investments in hydrogen production is vital if Australia is to realize the significant economic benefits and job creation opportunities hydrogen brings," he said in a statement.
"This study gets the ball rolling on the development of future hydrogen supply chain with Germany which could lead to billions of dollars in export earnings for Australia and help them meet their future clean energy ambitions."
Germany has committed to becoming carbon neutral by 2050 and is aiming to reduce its emissions by 55 percent by 2030.
"This agreement will open up another new market for our resources and potentially create thousands of new job opportunities for Australians well into the future," Minister for Resources Keith Pitt said on Thursday.
"Clean hydrogen is a transformational fuel that can be used to power vehicles, generate heat and electricity, and as a chemical feedstock in major industrial applications." ■ What to read next
The mid to upper level flow continues to amplify across the CONUS, leading to an active weather pattern across large portions of the eastern third of the nation.
Latest Baker Hughes: U.S. oil rig count down by 9 to 480
Turkish exports hit second highest March figure on record
Infineon Technologies to buy Marvell's auto ethernet business for $2.5 billion
Bosch establishes company with synthetic diamond solutions provider Element Six
U.S.: Significant severe weather and life threatening flash flooding
More than 300 arrests as African countries clamp down on cyber threats
U.S.: Winter hazards across north; heavy rainfall in south
Over 25,000 barrels of crude oil spilled in northern Ecuador
NTSB issues warning about bridges in New York and New Jersey
EU imports of rare earth elements saw 30% drop in 2024
Iran to finish key rail link to Oman Sea until March
U.S. oil rig count jumps as gas rig count slides
Paraguay: Our route is optimal for transport of LNG from Argentina to Brazil
Second-last high level waste shipment departs UK for Germany
Trending Now
Maryland Governor to lead international trade and investment mission to Japan and South Korea
Alberta leads delegation of forestry industry leaders to Texas
China, South Korea and Japan agree to strengthen trade ties
Trump signs order imposing reciprocal tariffs on countries worldwide
Trump announces new 25 pct auto tariffs
Today We Recommend Highlights
LS GreenLink buys land for $680m submarine cable factory in U.S.
Panama Canal to open bidding for LPG pipeline
ABL Bio lands $2.8 licensing agreement with GSK
Prada buys Versace in $1.4 billion deal
Taqa, Ewec, Masdar in deal to develop $9.8bn energy projects
Cold Summit appoints Harld Peters as president of Cold Summit Europe
Royal Van Leeuwen chairman Peter Rietberg stepped down
iSON Xperiences appoints Ricardo Langwieder as chief sales officer
Microland appoints Meenu Bagla as chief marketing officer
Rhenus Group expands management board
U.S. consumer confidence dropped sharply in February
EU records trade surplus for 6 quarters in a row
Brazil reaches second highest export value for January
U.S. becomes New Zealand's second largest export destination
Indonesia goes from $0.6 billion deficit to $5.9 billion surplus
Lockton revenue $3.55 billion
Motorcar Parts of America Q4 sales $189.5 million
Limoneira Q2 revenue $44.6 million
Lululemon athletica Q1 revenue increased 10% to $2.2 billion
PVH Q1 GAAP EBIT $205 million
Niger set to monetize massive gas reserves through Saharan natural gas pipeline
Putting the brakes on EV folly that choked the market
Oil discovery in Kavango Basin may mean huge benefits for Namibians
Cape Town and Dubai battle over Africa's energy future
Is America going to lose its superpower status?
Vietnam becomes Brazil’s second largest seafood supplier
Scientists design model to aid pig fever vaccine development
Slovakia declares state of emergency over foot and mouth disease
Michigan sets new record for food, ag and forestry exports
USDA to allow increased pork and poultry processor line speeds
Employers prefer younger job candidates for AI roles although experienced workers perform same or better
Study finds workers misjudge wage markets
Some organizations may need to expand their hierarchical structures earlier than others
Study finds there's right way and wrong way to deliver negative feedback in workplace
Allyship is critical and its needs appreciation
Commission fines Pierre Cardin and its licensee Ahlers €5.7 million for restricting cross-border sales of clothing
BHP, Vale agree to pay $30B damages for Brazil dam disaster
Commission fines České dráhy and Österreichische Bundesbahnen €48.7 million over collusion to exclude common compe
SEC charges Keurig with making inaccurate statements regarding recyclability of K-Cup beverage pod
SEC charges John Deere with FCPA violations for subsidiary’s role in Thai bribery scheme
Magazine
Morocco’s first Radisson branded hotel opens in Casablanca
Buna channels, an unreal and beautiful part of Bosnia and Herzegovina
JW Marriott unveils Mindful Haven with opening of JW Marriott Hotel Nairobi
Sotheby's Sports Week returns with fantastic artifacts
Red Roof properties open in Michigan
2025 Chevrolet Equinox stands apart with fresh looks and capability
Hill Helicopters HX50, luxury in the sky
Opel Movano becomes fully equipped camper van
Porsche Panamera, new hybrid variants
Dodge Charger, 670 horsepower of electric
Embellish your home with PVC panels
You'll have to hurry if you want one of 20 new Louis Vuitton watches
Luxury duvet looks good, fells good and keeps you healthy
Vacheron Constantin, watches for life and more
Schüller kitchens, where functionality marries design
reMarkable 2, monochrome tablet for your thoughts and your eyes
OnePlus Ace 3V, first with Snapdragon 7 Plus Gen 3
ASUS Zenfone 11 Ultra, flagship with a reason
Samsung Galaxy S24 is photography powerhouse
Casette tapes are making a big comeback, and so are portable players
Human cases of anthrax reported in western Mongolia
One more barrier to developing vaccine for HIV removed
Rwanda begins world's first clinical trial for treatment of Marburg virus disease
Rwanda restricts gatherings amid Marburg virus outbreak, to begin trials of vaccine
Teksas Attorney General reaches settlement in first-of-its-kind healthcare generative AI investigation
India launches space docking experiment mission
World-first carbon-14 diamond battery made
Einstein Telescope step closer
Exoplanet-hunting telescope to begin search for another Earth in 2026
India to build first phase of its own space station by 2028