Oil & Gas

The first floating terminal for exporting green hydrogen has secured a strategic partner to provide seed funding for its development, according to the Washington-based Specialized Energy Platform. Darwin's project aims to link Asian fuel cell vehicle manufacturers to Australian liquid hydrogen, produced using solar energy instead of coal. The project comprises three floating units on Channel Island near the Sustainable Development District of Middle Arm.

Brian Kitney, president of LH2 Energy, announced that a private European investor has joined Japanese, Korean, and Australian backers in supporting the first floating terminal to export green hydrogen, for an undisclosed but "significant" amount. This investment will be followed by a capital increase of approximately $30 million in 2025, with initial funds supporting this pioneering project, as reported by Renew Economy. Kitney noted that the new strategic investor will fund design and engineering efforts over the next 12 to 15 months, with the first shipment from Darwin expected to be delivered to the Japanese fuel cell vehicle market around 2030.

LH2 Energy's proposal includes using Latis shuttle tankers, vessels designed to transport oil from offshore installations. The Northern Territory government has granted a location on the island, and the project aims to support the local supply chain development, including a refueling station for future buses and fuel cell garbage trucks. Founded in 2020, Perth-based LH2 is building shipyards, pressurized tanks, and attracting automakers to the new supply chain. LATIS experts are collaborating with LH2 and the Northern Territory Government to develop the export project and local hydrogen hub, which will power new industries. Additionally, LH2 has secured a renewable energy supply agreement with the proposed Sun Cable Solar and Battery Project for the Northern Region, with several other projects as contingency plans.

In a related development, Deutsche Regas and Norway's Höegh LNG have signed an agreement to develop the world's first floating import terminal to convert green ammonia into green hydrogen on an industrial scale. The Lubmin hydrogen import terminal is scheduled to be operational in early 2026, designed as the world's first floating green ammonia cracker, producing about 30,000 tonnes of hydrogen per year. This hydrogen will be fed into the hydrogen core network via the existing feeder point at the Deutsche Regas terminal in the port of Lubmin. Höegh LNG has developed the ship's embedded green ammonia cracking technology, which will serve as an industrial test for carbon conversion and removal from floating storage and regasification units in Germany. Deutsche Regas will provide the onshore terminal infrastructure, comprehensive coordination, including permits, and commercialization of the terminal's import capabilities.