Shell pulls out of Bluescope Australian green hydrogen hub.
Australian steel producer BlueScope said that green steel is decades away, after Shell (NYSE:SHEL) withdrew its investment from a renewable hydrogen hub at the Port Kembla steelworks in New South Wales, Argus Media reported.
BlueScope will continue to work with other potential investors to explore building a 10 MW pilot renewable hydrogen electrolyser to test the use of green hydrogen in its blast furnace at Port Kembla, but the company said Shell has decided not to invest in the project.
Commercial steel production using hydrogen instead of coking coal is still decades away with no commercially viable options available anywhere in the world, exacerbated by the global energy crisis, as green steel requires significantly more electricity than traditional steelmaking methods, BlueScope CEO Mark Vassella said, according to Argus.
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Shell pulls out of Bluescope’s Australian green hydrogen hub, August 15, 2022
