Queensland settles $66m lawsuit with Fortescue over failed hydrogen project

The Queensland government has settled a $66 million lawsuit with Fortescue, owned by Andrew Forrest, over the failed green hydrogen electrolyser manufacturing facility in Gladstone. The project, which received $137 million in state and federal funding, operated for only seven weeks before closing in May 2025. Deputy Premier Jarrod Bleijie, who initiated the lawsuit, criticized the project as a 'vanity project.' The confidential settlement ensures the state retains value from its investment through the transfer of land, infrastructure, and other assets. Court documents revealed the government argued the project's failure cost Queensland a potential $1.7 billion hydrogen industry. Fortescue had claimed it met obligations under a 2021 agreement, while the state alleged the project was abandoned prematurely. The settlement allows both parties to move forward, with the government emphasizing retained public assets. The case highlighted tensions over energy policy shifts following the 2024 state election, where the LNP government removed hydrogen from its energy roadmap and withdrew support for the Central Queensland Hydrogen Hub.

(Source：The Sydney Morning Herald)