Lion Energy, Wagner Corp sign hydrogen MoU
Sydney-listed oil and gas explorer Lion Energy and Australian property developer Wagner Corporation have signed an MoU to explore opportunities in green hydrogen facilities and related infrastructure at the latter's Wellcamp Business Park and Pinkenba Wharf locations in Queensland, it said on June 3.
“We welcome the opportunity to explore green hydrogen opportunities with Wagner Corporation at the Wellcamp Business Park, and/or the Pinkenba Wharf in Brisbane,” Tom Soulsby, Lion’s executive chairman, said. “We re-emphasise the criticality of focusing our efforts at the intersection of renewable electricity and water resources, hydrogen markets and technology. We see relationships with groups with access to ports, airports, electricity grids, logistics hubs, highways, gas pipelines and new rail projects as key success factors.”
Wagner is the proprietor of the Toowoomba Wellcamp airport and adjacent Wellcamp Business Park. The MoU is non-binding and valid for an initial term of two years but may be terminated by either party on one month's written notice.
Last month, Lion said it would be entering the green hydrogen space and will run the business under the name Lion H2 Energy. It believes Australia’s abundant renewable resources position the country for becoming one of the lowest cost green hydrogen producers, especially for the Asian market.