Lion Energy eyes hydrogen biz
Sydney-listed oil and gas explorer Lion Energy would be entering the green hydrogen business, it said on May 5. The company will run the business under the name Lion H2 Energy.
“We are excited to venture into green hydrogen to participate in the energy transition and to leverage Australia’s comparative advantage in renewable energy,” Tom Soulsby, Lion’s executive chairman, said.
The company said it will establish a team of hydrogen experts, which will form a Hydrogen Advisory Board. It will appoint experts to analyse optimal electrolyser locations in Australia. Lion will also set up joint ventures with global players to build solar/wind farms and energy storage facilities to produce green hydrogen for domestic and export markets, it said.
Lion believes Australia’s abundant renewable resources position the country for becoming one of the lowest cost green hydrogen producers, especially for the Asian market.