Ampol’s chief executive officer said the development of hydrogen as a fuel source is unlikely before 2030, but it will transformative.
Developing hydrogen as a fuel source at scale is unlikely before the end of the decade, Ampol’s chief executive said, denting optimism about the zero-emissions fuel source.
The two largest components of producing hydrogen are electrolysers and the cost of energy, though a rapid increase in zero emission energy generation has significantly weighed on wholesale electricity prices. It is also planning a green hydrogen plant next to its Brisbane oil refinery, partnering with a start-up in hydrogen-based micro-generation and storage, and envisaging a longer-term national rollout of an electric vehicle charging network.
The transition from coal – the traditional source of its electricity generation – to renewables is under the microscope amid an energy crunch that threatens to shutter businesses and heighten concerns about the costs of living on households already struggling with soaring inflation and stagnant wage growth.Still, Mr Halliday said hydrogen as a fuel source to aid the transition away from coal and other fossil fuels is at least 15 years away.
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