WOODSIDE Petroleum chief Peter Coleman attended the annual Australia-Japan Joint Business Conference this week, outlining the importance of continued LNG exports to Japan from Australia for both nations and the transition to a hydrogen economy.
Coleman stressed the significance of Japanese investment in making large-scale projects including the Pluto LNG plant expansion and future phases in the North West Shelf feasible.
Around 85% of Woodside's contracted LNG is currently sold to Japan.
Coleman told the conference that while the global energy market was continuing to evolve, key challenges faced by industry would be solved through our strong partnership with Japan.
"Our world faces a dual challenge - of providing extra energy, with fewer emissions," Coleman said.
In recent months the private and public sectors in Japan have committed to investing $10 billion into LNG infrastructure globally. This, according to Coleman underscored a "sign of confidence" in the future LNG market.
Longer term that LNG market provides the synergies needed to propel Japan's planned hydrogen economy.
"Just like the genesis of the LNG industry, this (developing hydrogen) is going to require enduring partnerships between buyers and sellers of energy."
Coleman believes that the hydrogen transition will be across two stages; first, ‘blue' hydrogen made from natural gas "with the emissions managed at that point," he said, but did not elaborate.
Source: Energy News Bulletin
Read more here