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ANDREW FORREST : Fortescue Metals Group will be the world’s first heavy industry company going green and we do what we say we’re going to do.
TED OBRIEN, SHADOW FEDERAL ENERGY MINISTER: What we have, yet again, is a decision being made that is going to punch an enormous hole in Labor's energy plan. We cannot as a nation, put all our eggs in one basket.ANDREW FORREST, FORTESCUE METALS GROUP CHAIR: Thank you, Sarah. Where we have low-cost energy, we're continuing but hydrogen, fortunately, isn't just a function of being able to make shipping fuel, make green iron with it - we can also use it for fertiliser.
ANDREW FORREST: Sarah, yes, look, certainly. But it isn't going to be just green hydrogen, per se. It'll be green fertiliser which we're supporting with the largest fertiliser company which exists in North Africa. It is a huge company which gets all its ammonia - which is a function of hydrogen - from the most disgusting process possible, which is the burning of fossil fuels. It is also the making of green iron, which will consume enormous amounts of green hydrogen.
ANDREW FORREST: Sarah, look, it's an excellent question. I don't think we should look at hydrogen just as a molecule on its own. SARAH FERGUSON: Let me just come in for a sec, if I may, just to help people understand this. Because these are complex ideas. I'm trying to understand how the decision to postpone your target for the production that you had been spruiking for some time, how this reflects on the government's policy to commit to subsidies for green hydrogen.
That can burn green hydrogen as a fuel but it can also burn hydrogen to make green iron. Now if that rolls the way it could, Sarah, that would be the biggest industry, the biggest single economic driver in Australia - many times bigger than the iron ore export industry. It can drive green fertilisers.
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