fbpx
  • About us
  • Advertise
  • Contact
  • Nominate
  • Client’s Voice
  • Login
  • Register
📖 Magazine
The Global Economics
  • Home
  • Banking
  • Non Banking
  • Markets
  • Infrastructure
  • Lifestyle
  • FeatureNew
  • Awards
No Result
View All Result
  • Home
  • Banking
  • Non Banking
  • Markets
  • Infrastructure
  • Lifestyle
  • FeatureNew
  • Awards
No Result
View All Result
The Global Economics
No Result
View All Result
Home Markets Ultility

British Petroleum plans for green hydrogen, green ammonia plant in Australia

BP is planning on spending around $5 billion annually on low-carbon investments

Archana Karumanchi by Archana Karumanchi
August 11, 2021
in Logistics, Top Stories, Ultility, Wealth & Asset Management
Reading Time: 2 mins read
0
British Petroleum plans for green hydrogen, green ammonia plant in Australia

British Petroleum plans for green hydrogen, green ammonia plant in Australia

753
SHARES
4.2k
VIEWS
FacebookTwitterRedditWhatsAppLinkedInShare Link

British Petroleum sees potential for green hydrogen and a green ammonia plant in the mid-west region of Western Australia. BP is planning on spending around $5 billion annually on low-carbon investments. Australia is a feasible location for large-scale production of green hydrogen because it has vast lands and abundant wind and sunshine.

The production of green ammonia and green hydrogen is technically feasible at scale in Australia. However, the process will require mega investments in services such as electricity, port, and water.

A study, supported by the Australian Renewable Energy Agency (ARENA), considered building a demonstration plant where an electrolyzer powered by renewable energy will split water to produce hydrogen. The hydrogen produced would then be used to make green ammonia. This facility would be able to produce 1 million tonnes a year.

There is a global push to save the environment by cutting carbon emissions. Australia wants to replace fossil fuels with green hydrogen. According to BP Australia President Frédéric Baudry, this eco-friendly move would position Australia as a regional powerhouse of the energy transition. Mr. Baudry also said that their study also confirmed that there would be strong demand from potential customers in the renewable technologies sector for both export and local markets.

Engineering firm GHD conducted the study and found that developing a hydrogen industry would need government support, including expanding ports, building transmission lines, setting emissions targets, and providing incentives. GHD has not given a cost estimate for a commercial-scale plant. The biggest obstacle to attracting investments is the absence of an emissions cap or carbon price in renewable technologies such as hydrogen, according to GHD.

The Australian government has declined to commit to net zero emissions by 2050 and has also refused to set a price on carbon. BP said that it would develop plans for green hydrogen and green ammonia projects with other companies in Western Australia. Japan’s Mitsui OSK Lines and Australia’s Origin Energy said that they would jointly study how green ammonia projects of Australia could supply markets from 2026.

Tags: ARENaustraliaAustralian Renewable Energy AgencyBritish PetroleumGreen AmmoniaGreen HydrogenSetup Plant
Archana Karumanchi

Archana Karumanchi

Archana Das Karumanchi is our content writer with a Master's degree in English Literature. She is not only well versed in the English language but also has a degree in Economics. Her key strength is the ability to write articulately about economic issues and trends keeping the target audience in mind.

Related Posts

AMC Theatre
Lifestyle

Want a Seat In The Middle of The Theatre? Pay More: AMC Movies

by Marifur Rahman
February 7, 2023
Meta shares increase the most since 2013 and earns $40 billion in share buybacks
Finance

Meta shares increase the most since 2013 and earns $40 billion in share buybacks

by Riya Thomas
February 3, 2023
Subway
Retail

Sandwich Chain, Subway’s Business Becomes Tastier As Sales Climb

by Marifur Rahman
February 3, 2023
Bank of England plans for its 10th successive interest-rate hike, stiffens for shallow recession
Funds

Bank of England plans for its 10th successive interest-rate hike, stiffens for shallow recession

by Riya Thomas
February 2, 2023
A Western Oil Milestone: Exxon Sets Historic High with Record $56 Billion Profit
Ultility

A Western Oil Milestone: Exxon Sets Historic High with Record $56 Billion Profit

by Riya Thomas
February 1, 2023
Facebook Twitter Instagram Youtube LinkedIn Soundcloud
The Global Economics

The Global Economics Limited is a UK based financial publication and a quarterly business magazine giving thoughtful insights into the financial sectors on various industries across the world. Our highlight is the prestigious country specific Annual Global Economics awards program where the best performers in various financial sectors are identified worldwide and honoured.

DMCA.com Protection Status

  • Privacy
  • Legal
  • Terms of Use
  • Client’s Voice
  • Server Status

norton verified - the global economics

Latest Posts

Bears Have Paused Playing Ahead Of Fed, ECB and BOE Speeches

Bears Have Paused Playing Ahead Of Fed, ECB and BOE Speeches

February 8, 2023
Unlocking Possibilities with ChatGPT: What AI-Assisted Conversation Could Mean for You?

Unlocking Possibilities with ChatGPT: What AI-Assisted Conversation Could Mean for You?

February 7, 2023
AMC Theatre

Want a Seat In The Middle of The Theatre? Pay More: AMC Movies

February 7, 2023
Download The Global Economics PWA to your mobile or Desktop
PWA App Download
Download The Global Economics Android App to your mobile or Desktop
Android App
Download The Global Economics IOS App to your mobile or Desktop
IOS App

All Rights Reserved © 2020 | 🇬🇧 The Global Economics, Business Finance Publication - www.theglobaleconomics.uk 🌏

No Result
View All Result
  • About us
  • Awards
  • Magazine
  • Client’s Voice
  • Exclusive Coverage
  • Nominate
  • Login
  • Sign Up

All Rights Reserved © 2020 | 🇬🇧 The Global Economics, Business Finance Publication - www.theglobaleconomics.uk 🌏

Welcome Back!

Sign In with Facebook
Sign In with Linked In
OR

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Sign Up with Facebook
Sign Up with Linked In
OR

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
-
00:00
00:00

Queue

Update Required Flash plugin
-
00:00
00:00
Go to mobile version