INPEX CORPORATION (INPEX) announced it has signed a memorandum of understanding (MoU) with Australian energy provider AGL Energy (AGL) to conduct a feasibility study for AGL’s Torrens Island Hydrogen Hub (hereinafter TH2) in the state of South Australia. TH2 has the potential a variety of clean energy solutions including the production and export of green hydrogen and the commercialization of methanation from hydrogen. INPEX joins AGL and its other partners on the study.
TH2’s location has many advantages. By leveraging the extensive renewable energy resources available in South Australia as well as the existing infrastructure and industry at Torrens Island, the project is well set up for success. Furthermore, TH2’s location near South Australia’s capital of Adelaide is expected to drive local production and consumption of energy while creating opportunities for the export of hydrogen and other energy solutions to Japan and other countries in the future.
INPEX seeks to develop a hydrogen business, which is one of the 5 net zero businesses outlined in the company’s INPEX Vision @2022 announced on February 9, 2022. The company plans to commercialize three or more projects by around 2030 and aims to produce and supply 100 thousand tons or more of hydrogen/ammonia per year. INPEX will proactively engage in energy structure reforms towards the realization of a net zero carbon society while fulfilling its responsibilities for the stable development and supply of energy.