Fortescue Metals Group chairman Andrew Forrest said Australia needed to use renewable energy for baseload energy needs, with existing gas used for back-up.
The Albanese government is locked in negotiations with the Greens over changes to theGreens Leader Adam Bandt has called for a ban on new coal and gas projects but has backed away from making it one of the conditions of the party’s support for the legislation.
Dr Forrest’s private company Squadron Energy is planning a $250 million gas import terminal at Port Kembla with the option for a gas/hydrogen plant. He said Fortescue Future Industries – which has championed green hydrogen around the world – was on track to reach a final investment decision on five projects by the end of this year, including in Kenya and other African nations.
But Dr Forrest said CCS was a failed technology that the fossil fuel industry was backing as the world moved to renewable energy.
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