The voice of Australia's oil and gas industry today called on politicians from all sides to back regulations expanding the investment remit of ARENA (Australian Renewable Energy Agency) as it will help the country reach net zero emissions.
APPEA Chief Executive Andrew McConville said there is no reason why the expansion of ARENA to include a broader range of emissions reduction technologies should not be supported.
"Climate change should not be used as a political weapon and politicians shouldn't 'pick winners' when it comes to protecting the environment. Supporting these measures demonstrates support for practical steps to reduce emissions and help the environment," Mr McConville said.
"All technology, including hydrogen and carbon capture and storage (CCS), should be on the table to help reduce emissions.
"Just as government investment in renewables has fast tracked projects, this would do the same and create thousands of jobs in the process.
"The global oil and gas industry is leading the world in the practical deployment of CCS and hydrogen. In Australia, the oil and gas industry has been at the leading edge of researching and deploying CCS and greenhouse gas storage technologies.
"Natural gas with CCS is a pathway to a large-scale clean hydrogen industry."
"Australia's LNG export success means the Australian upstream oil and gas industry has the technology, expertise, commercial and trade relationships to make, in particular, hydrogen exports a reality.
"Developing a local hydrogen industry could enable lower emissions both in Australia and internationally, reduce energy costs, deliver energy security, together with new employment and manufacturing opportunities."
A range of case studies of the way in which the industry is taking practical action to support emissions reductions across the industry supply chain and leading research into innovative emissions reduction activities is highlighted in APPEA's Industry Action on Emissions Reduction report*.
*https://www.appea.com.au/wp-content/uploads/2020/06/Industry-Action-on-Emissions-Reduction.pdf
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