Fortescue chairman, Andrew Forrest
Fortescue ends interest in Russian hydrogen sector
Australian firm retreats from possible ventures following invasion of Ukraine
Australia’s Fortescue Future Industries, the renewables arm of major iron ore producer Fortescue Metals Group, has halted its interest in investing in hydrogen projects in Russia in response to the invasion of Ukraine. The company had been working closely with senior Russian government officials on potential projects and had agreed to join a working group to help drive the development of the hydrogen sector in the country, although it had not announced any firm investments. “We have been trying to work with Russia for some time, but we have made incredibly clear that you just have no excuse to go and invade another country,” Andrew Forrest, chairman of parent company Fortescue Metals, told A
Also in this section
9 March 2026
Hydrogen has not stalled in the UK because the technology does not work. The problem is that the system around it does not yet move at the speed required
4 March 2026
Turmoil in Middle East reminds nascent clean hydrogen sector that its future prospects are dependent on global energy markets and geopolitics
25 February 2026
Low-carbon hydrogen and ammonia development is advancing much more slowly and unevenly than once expected, with high costs and policy uncertainty thinning investment. Meanwhile, surging energy demand is reinforcing the role of natural gas and LNG as the backbone of the global energy system, panellists at LNG2026 said
18 February 2026
Norwegian energy company has dropped a major hydrogen project and paused its CCS expansion plans as demand fails to materialise
