SACOME Welcomes Investment in New Energy Technologies
The South Australian Chamber of Mines and Energy (SACOME) welcomes the Federal Government’s announcement of the $1.9 billion ‘Next Generation Energy Technologies Investment Package’ and is supportive of Carbon Capture Use and Storage (CCUS) Hubs and Hydrogen Export Hubs being based in South Australia.
SACOME supports funding announcements for the Carbon Capture Use and Storage (CCUS) Development Fund; and establishment of a regional Hydrogen Export Hub via competitive tender process.
The potential economic growth and employment opportunities through the development of a CCUS and hydrogen export industry are significant, with South Australia being well positioned to fast-track both initiatives.
SACOME member company Santos’ Moomba CCUS project has the potential to be a large-scale carbon sink for power generators and other industries in eastern and southern Australia, with Santos eager to progress final investment decision on this 1.7 million tonne per annum carbon capture facility by the end of the year.
The strategic development of hydrogen through the National Hydrogen Strategy has the potential to create significant commercial opportunities for South Australia when combined with the State’s abundant renewable energy generation as a feedstock to hydrogen production.
The commercialisation of hydrogen production creates further opportunities for manufacturing, including the production of ‘green steel’ in the Upper Spencer Gulf. SACOME recognises the Commonwealth and South Australian Government’s efforts in creating impetus for development of a new hydrogen industry, enabled by renewables and natural gas in conjunction with CCUS.
Rebecca Knol, Chief Executive Officer said “The strength of the resources sector has underpinned the South Australian economy during the disruption of the coronavirus pandemic, providing much-needed job stability.
The development of CCUS and hydrogen hubs has significant potential to lower business costs and emissions, create new industries for the State, as well as positioning South Australia front and centre for the jobs of tomorrow.
The South Australian resources sector is well-poised to play an important role in the development of CCUS and hydrogen hubs and already employs 26,000 people directly and indirectly, delivers $6.4 billion in production, $5.3 billion in exports and $299 million in royalties to South Australians.
Media contacts:
Rebecca Knol, CEO SACOME, 0409 012 007
About SACOME
The South Australian Chamber of Mines and Energy is the peak industry association representing companies with interests and connections to the South Australian resources and energy sector.
SACOME supports funding announcements for the Carbon Capture Use and Storage (CCUS) Development Fund; and establishment of a regional Hydrogen Export Hub via competitive tender process.
The potential economic growth and employment opportunities through the development of a CCUS and hydrogen export industry are significant, with South Australia being well positioned to fast-track both initiatives.
SACOME member company Santos’ Moomba CCUS project has the potential to be a large-scale carbon sink for power generators and other industries in eastern and southern Australia, with Santos eager to progress final investment decision on this 1.7 million tonne per annum carbon capture facility by the end of the year.
The strategic development of hydrogen through the National Hydrogen Strategy has the potential to create significant commercial opportunities for South Australia when combined with the State’s abundant renewable energy generation as a feedstock to hydrogen production.
The commercialisation of hydrogen production creates further opportunities for manufacturing, including the production of ‘green steel’ in the Upper Spencer Gulf. SACOME recognises the Commonwealth and South Australian Government’s efforts in creating impetus for development of a new hydrogen industry, enabled by renewables and natural gas in conjunction with CCUS.
Rebecca Knol, Chief Executive Officer said “The strength of the resources sector has underpinned the South Australian economy during the disruption of the coronavirus pandemic, providing much-needed job stability.
The development of CCUS and hydrogen hubs has significant potential to lower business costs and emissions, create new industries for the State, as well as positioning South Australia front and centre for the jobs of tomorrow.
The South Australian resources sector is well-poised to play an important role in the development of CCUS and hydrogen hubs and already employs 26,000 people directly and indirectly, delivers $6.4 billion in production, $5.3 billion in exports and $299 million in royalties to South Australians.
Media contacts:
Rebecca Knol, CEO SACOME, 0409 012 007
About SACOME
The South Australian Chamber of Mines and Energy is the peak industry association representing companies with interests and connections to the South Australian resources and energy sector.