Energy Club

Northern Territory

  • Home
  • News
  • Australia's man in Seoul pushes hydrogen potential

Australia's man in Seoul pushes hydrogen potential

03 Feb 2020 11:20 AM | Sonia Harvey (Administrator)

AUSTRALIA’S trade relations with one of North Asia’s powerhouse economies, South Korea, are often forgotten in favour of China, Japan and even Indonesia, especially after 2019’s hard won bilateral free trade agreement.

However until recently the nation was the Australia's second-largest LNG export market and is now third, while Australian exports are projected to rise in the mid-term as Seoul plans to retire more coal-fired power. 

Now, Australia's ambassador to South Korea James Choi believes hydrogen cooperation is the way forward, seeing synergies with the LNG export industry much the same way Japan is looking to leverage its decades of trade ties as part of its own long term hydrogen economy plans.  

Earlier this year now-departed resources minister Matt Canavan signed a cooperative agreement with his Japanese counterpart to work more closely on developing a hydrogen economy working on both R&D and multilateral legislation and cooperative efforts.  

However such cooperation doesn't yet exist between Australia and South Korea but Australia's National Hydrogen Strategy released in late 2019 is bullish on the potential for Australia to make billions supplying large Asian economies. 

"A cautiously optimistic scenario could see an Australian hydrogen industry generate about 7600 jobs and add about $11 billion a year in additional GDP by 2050 If global markets develop faster, it could mean another ten thousand jobs and at least $26 billion a year in GDP," a preface to the strategy said.  

"Australia's got abundant gas and renewable energy. … I see hydrogen as the next phase of Australia's very important energy partnership with the Republic of Korea," Choi told the Korea Herald this week. 

Source: Energy News Bulletin

Read more here

Energy Club NT is an Incorporated Association 

The information contained in this website is for general information purposes only. The information is provided by Energy Club NT Inc and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.

In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.

Through this website you are able to link to other websites and files which may not be owned, authored or under the control of Energy Club NT Inc. We have no control over the nature, content and availability of other websites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.

Powered by Wild Apricot Membership Software