Fortescue Future Industries to investigate hydrogen production at a decommissioned oil refinery in New Zealand

Fortescue Future Industries to investigate hydrogen production at a decommissioned oil refinery in New Zealand

New Zealand’s hydrogen prospects are set to be boosted with Fortescue Future Industries (FFI) and Refining NZ (RNZ) agreeing to investigate the use of green hydrogen within Marsden Point oil refinery.

Formalised with the signing of a memorandum of understanding (MoU), the companies will conduct a study for the commercial and technical aspects of producing, storing, distributing, and also exporting industrial-scale green hydrogen.

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This could be a key development for the New Zealand hydrogen economy with the potential to create vast amounts of hydrogen to be used both domestically and also potentially exported to lucrative markets in the region.

Dr. Andrew Forrest, Chairman and founder of Fortescue Future Industries, said, “Green hydrogen can provide all sorts of advantages to local and export economies – and is the answer our planet needs now.

“Last week we announced we would look into producing green hydrogen at a retiring coal fired power station in Australia, yesterday we shared our decision to progress to the next stage converting a grey ammonia plant to green, and today we are looking to kick off something similar at Marsden Point oil refinery in New Zealand.

“Green hydrogen production at Marsden Point will potentially deliver energy security, good local jobs, and the decarbonisation of local heavy industry – all while reducing emissions for New Zealand.”

Naomi James, CEO of Refining NZ, said, “The potential of green hydrogen to support New Zealand’s energy transition is huge, so we are delighted that FFI has chosen to partner with us as we jointly to investigate what might be possible in years to come.”

Felicity Underhill, Director of Australia East and New Zealand at Fortescue Future Industries, said, “As a New Zealander, I am keen for us to harness the immense potential of New Zealand to benefit from a green hydrogen industry.

“I look forward to working with RNZ, government, local Iwi and other communities to investigate the possibility of repurposing the Marsden Point site to produce green hydrogen.”

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