According to The Australian Financial Review, Woodside Energy expects that large-scale hydrogen production will occur around the globe by 2030, with Australia needing to invest heavily to be at the forefront of a sector which has similarities with LNG almost four decades ago.
Shaun Gregory, executive vice president of exploration and the chief technology officer at Woodside Energy, said hydrogen currently cost too much compared with other sources of energy, but the potential was vast and rapid advances are being made.
Australia had abundant resources and was well-positioned to become a major player although heavy investment in infrastructure and capacity is required, along with the right regulatory standards to accelerate the industry. Consumer acceptance also needed to be cultivated.
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