Energy and Emissions Reduction Minister Angus Taylor will strengthen Australia’s energy security and promote Australia as a safe, reliable and stable destination for investment in gas, hydrogen and new energy technologies during high-level talks in the United States of America this week.

Minister Taylor will hold bilateral discussions with US Energy Secretary Dan Brouillette in Washington and sign a landmark arrangement with the United States that will allow Australia to access crude oil that is held in the US Strategic Petroleum Reserve during an emergency. This will enhance Australia’s resilience to international fuel disruptions by increasing our oil stockholdings.

Mr Taylor will visit the oil and gas state of Texas where he will meet key industry executives. He will also visit the US Government’s National Renewable Energy Laboratory (NREL) in Colorado, which is leading research into production of biological hydrogen as a new and clean source of energy.

The Australian Government has released a National Hydrogen Strategy designed to build Australia’s hydrogen industry into an international powerhouse. Hydrogen exports could be worth around $11 billion a year in additional GDP and generate 7,600 new jobs by 2050, many in regional Australia.

Emerging technology offers the best prospect of maintaining and strengthening our position as an energy export leader, while supporting reduction in global emissions and protecting jobs and economic growth.

In coming weeks, the Australian Government will be releasing a Technology Investment Roadmap consultation paper. The Government will partner with industry and investors to stay at the cutting edge of technology investment and maximise efficient emissions reduction.

Australia is committed to the Paris Agreement and ambitious climate action. We are committed to reducing emissions by 26 to 28 per cent below 2005 levels by 2030, and we are on track to meet and beat our Paris target.

ENDS

Minister Taylor’s office: 02 6277 7120