Media release: ARENA regulation a win for common sense

The voice of Australia’s oil and gas industry tonight said expanding the investment remit of ARENA (Australian Renewable Energy Agency) will help the country reach net zero emissions.

APPEA Chief Executive Andrew McConville said the expansion of ARENA to include a broader range of emissions reduction technologies is a win for common sense.

“All technology, including hydrogen and carbon capture and storage (CCS), should be on the table to help reduce emissions. Supporting these common sense measures demonstrates support for practical steps to reduce emissions and help the environment,” Mr McConville said.

“Just as government investment in renewables has fast tracked projects, this will do the same and create thousands of jobs in the process.

“The global oil and gas industry is leading the world in the practical deployment of CCS and hydrogen. In Australia, the oil and gas industry has been at the leading edge of researching and deploying CCS and greenhouse gas storage technologies.

“Natural gas with CCS is a pathway to a large-scale clean hydrogen industry.”

“Australia’s LNG export success means the Australian upstream oil and gas industry has the technology, expertise, commercial and trade relationships to make, in particular, hydrogen exports a reality.

“Developing a local hydrogen industry could enable lower emissions both in Australia and internationally, reduce energy costs, deliver energy security, together with delivering new employment and manufacturing opportunities.”

A range of case studies of the way in which the industry is taking practical action to support emissions reductions across the industry supply chain and leading research into innovative emissions reduction activities is highlighted in APPEA’s Industry Action on Emissions Reduction report.

Read the media release