The Australian Government has released its Technology Investment Roadmap discussion paper, which is set to bring a strategic and a system-wide view into investments in low emission technologies.
Federal Minister for Energy and Emissions Reductions Angus Taylor said the government saw potential in technologies like hydrogen, CCS, soil carbon sequestration, biofuels, resources and energy exports to reduce emissions while strengthening the economy.
“At its core, this is about technology not taxes. It means reducing emissions, not reducing jobs and the economy. It is an approach based on rigour, confidence, optimism, and Australian ingenuity not ideology,” Taylor said.
In response to the roadmap, Australian Petroleum Production & Exploration Association (APPEA) chief executive officer Andrew McConville said the paper was an important step to achieving a lower carbon economy.
“The discussion paper clearly identifies the need for a system-wide appreciation of our energy requirements and that there are different roads we can take to get there. At a time when the economy is under significant pressure from the challenges associated with COVID-19, investing in cleaner energy technologies makes sense, from an emissions perspective and to strengthen our economy,” McConville said.
In addition, the roadmap goals will be developed in consultation with industry, researchers and the financial sector, with progress reported through an annual Low Emissions Technology Statement.
McConville added that the discussion paper recognised the powerful role that Australia’s modern, technology-driven natural gas industry can play in lowering Australia’s emissions and those of our trading partners.
“Australia’s natural gas industry is a high-technology industry, and the discussion paper recognises the important role that the industry will continue to deliver for Australia and for the world. Emerging technologies like carbon capture and storage, hydrogen, and the increasing role renewables continue to play are all significantly underpinned by natural gas in our energy mix today,” McConville said.
The paper also highlights the role of Australia’s liquefied natural gas (LNG) exports continuing to play a role in reducing the emissions profile.
McConville said the oil and gas industry looked forward to further engagement through the discussion paper process to elaborate on how the nature gas industry can support innovative solution as it moves towards a cleaner energy future.