Japanese-funded $500m project to extract hydrogen from Victorian coal is at risk, sources say

Exclusive: funding requests, uncertain responsibilities and a failure to secure long-term contracts has critics asking if the fossil fuel-based venture is still a good deal

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A multibillion-dollar Japanese plan to extract hydrogen from Victoria’s brown coal is at risk of failing due to demands for extra subsidies and a lack of willingness from Japanese customers to sign up for long-term deals.

People familiar with the Hydrogen Energy Supply Chain (HESC) project said only a portion of the ¥220bn (A$2.48bn) funding would actually be spent on developing a liquefaction plant in the Latrobe valley and export facilities at the nearby Hastings port.

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