ANZ’s Hydrogen Handbook 2.0 highlights Australias competitive position in global hydrogen industry
ANZ today released the second edition of its Hydrogen Handbook, revealing Australia is expected to service 9.1% of global export demand for hydrogen in 2025.
The handbook said Australia is well-positioned to produce, use and export hydrogen due to the country’s land capacity and accessibility to wind and solar power resources.
Hydrogen’s competitive advantage is a result of lower costs of production, storage and transportation, as well as anticipated strong demand for the low carbon fuel source by existing trade partners.
ANZ Head of Research & Analysis, Resources, Energy & Infrastructure Australia, John Hirjee said: “Australia’s hydrogen export opportunities to Japan and South Korea, paired with an ability to produce green hydrogen could help position Australia as a leader in the global hydrogen market.
“While still a nascent industry, continued investment such as the Federal Government’s Hydrogen Headstart program will help to ensure Australia’s competitive position in the global hydrogen industry and as an exporter.
“With our global footprint, ANZ is in a unique position to support our customers in their low carbon transition and to finance projects which reduce emissions and support economic growth,” he said.
Australia's suitability for utilising renewable electricity to produce hydrogen further demonstrates the opportunity at hand, Mr Hirjee said.
ANZ launched its first Hydrogen Handbook in 2022 after observing a growing need for up-to date, insightful and practical information on the emerging hydrogen economy. The second edition provides an update on the global market for hydrogen and its adoption as both an energy source and feedstock into industrial processes.
Of the 11 AA rated Banks globally, ANZ is the only AA rated Australian bank with an on the ground presence in 13 markets in Asia, as well as the UK, Europe, US, Pacific and the Middle East.