Understanding the demand for Green Steel, page-750

Hydrogen's potential for onshoring Australian green iron production | IEEFA

Key takeaways:
1. As more global rivals turn to green iron and steel production, the government’s Hydrogen Headstart funding and tax credits can help Australia compete.
2. South Australia’s new green iron EOI and Quinbrook’s project highlight the growing push to bypass gas and shift straight to green hydrogen-based DRI in Australia.
3. The Future Gas Strategy’s notion that gas has a role in steelmaking directly contradicts the steel sector’s growing global shift towards green hydrogen.
4. Gas-based DRI has lower emissions than coal-fired blast furnaces, but still emits significant CO2. Carbon capture and storage technology (CCS) is unable to effectively decarbonize gas-based steelmaking."
5. International car makers are already signing purchase agreements for green steel made using green hydrogen with virtually no emissions. Definitions of what constitutes “green iron” and “green steel” are only expected to tighten."