The Fortescue boss tells the AFR a cable through Indonesian and Malaysian waters is a ‘sovereign risk’, and explains his plan for shipping green hydrogen.
. As he tells it, they were “less excited about electrons”, and keener on “hydrogen molecules, delivered on ships”.The cable proposal also presented sovereign risk, as it traversed several countries’ territorial waters. “Cables are fantastic, but at shorter distance and through very friendly waters. Because cables are exposed,” Dr Forrest said.
Dr Forrest said he had conveyed his concerns, saying: “The customer is always right. Do not go against the customer”. But “it just fell on deaf ears”. Dr Forrest said this view came “directly from fossil fuel funded academics” and was “academically incorrect”. He said other studies showed that as long as hydrogen leakage was kept at low levels, which was highly likely, it delivered a superior outcome to fossil fuels.
At the destination, the hydrogen is stripped off and supplied to the customer, while the CO2 bed remains in the ship and “goes back to Western Australia for another load of hydrogen”.
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