Fortescue Future Industries (FFI) has announced they are partnering with Papua New Guinea (PNG) to develop several large-scale green energy and hydrogen projects.
As a country which heavily relies on imported oil, the project with Fortescue Future Industries will allow PNG to create a significant new domestic energy and export industry.
Indeed, the FFI’s projects in PNG could produce up to 2.3 million t of green hydrogen per year.
Fortescue Chairman Dr Andrew Forrest said the projects will “completely transform” PNG to become a leader in the world’s renewable energy transition.
“We are committed to ensuring PNG’s communities benefit from growth and development through these projects, including training, employment and business development opportunities,” Forrest said.
FFI chief executive officer Julie Shuttleworth said the company’s green energy vision for PNG will lead to more jobs, a stronger economy, thriving communities and lower emissions for the country.
“We share Prime Minister Marape’s vision that PNG can be at the forefront of developing hydropower and geothermal resources for the emerging global green hydrogen industry,” Shuttleworth said.
“We are looking forward to continuing our work alongside the Government of Papua New Guinea to develop these important opportunities.”
Shuttleworth said FFI will also place human rights and the environment above economics, with a focus on ending exploitation and modern slavery.
“FFI will also undertake extensive community, landowner and stakeholder engagement to develop a detailed national content plan as part of its stakeholder investment strategy,” she said.
For more information visit the Fortescue Future Industries website.