Australian 'Green' Hydrogen Project Under Threat [Barron's]
MARUBENI CORP UNSP/ADR (MARUY)
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Source: Barrons
The project aims to build a hydrogen production plant in central Queensland state, which would produce low-emissions fuel destined for the likes of Japan and Singapore. Although the Australian government has pledged US$40 million for construction, state officials pulled their support on Monday evening citing the spiralling cost. Climate Change Minister Chris Bowen said Tuesday it was "surprising and disappointing". "Green hydrogen plays to Australia's unique strengths and we're unapologetic about pursuing an industry that is recognised as having an important role in the future of manufacturing and energy in Australia, and globally," he said in a statement. It was unclear whether the hydrogen hub could go ahead without state government support. Bowen said it would be a "commercial decision for the parties involved". Japan's Iwatani Corporation and Marubeni Corporation are listed as partners alongside Singapore-based asset manager Keppel. A Queensland state spokesman said
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