Treasurer and Minister for Trade and Investment Cameron Dick has welcomed the signing of a Memorandum of Understanding to further the commercialisation of methanol production, using green hydrogen in Gladstone.
Mitsubishi Gas Chemical Company (MGC) and Cement Australia (CA) will apply MGC’s newly-developed Circular Carbon Methanol production technology to capture carbon dioxide from CA’s Gladstone Plant.
The Treasurer said the MoU is an important step on the journey towards the commercial production of green methanol.
“This joint feasibility study into the $150 million first-stage green methanol plant underlines the strong investment climate created by our Government’s $62 billion Queensland Jobs and Energy Plan.”
“It also shows the array of potential opportunities for new and emerging industries to build a footprint in Gladstone.”
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The Treasurer met with MGC Representative Director and President Mr Masashi Fujii, during his trade mission to Japan.
Phase one of the commercial operation is expected to start in mid-2028 with a production capacity of up to 100,000 tonnes of green methanol per annum.
The Gladstone plant would be MGC’s first major investment in Australia and has been facilitated by Trade and Investment Queensland’s Tokyo, Brisbane and Gladstone offices.
“The potential of green methanol shows the breadth of derivative industries where Gladstone’s emerging green hydrogen industry can lead,” the Treasurer said.
“First mover advantage would position Queensland as a leading producer of green methanol for export to Asia and beyond.
The Gladstone region is considered a prime global area to develop businesses in a variety of renewable energy sectors.
Gladstone has a unique set of attributes to be a global player in the production of green hydrogen and related products, including a deepwater port with space for expansion, electricity and gas transmission infrastructure and a highly skilled workforce.