00:00So we've been working with our partners at Graincorp and IFM through a study phase to establish a low-carbon
00:07liquid fuels manufacturing facility up at the Lytton Refinery at Queensland.
00:13We are working through a range of the arrangements, both from a feedstock point of view, the engineering of the
00:19plant, as well as arrangements with customers.
00:23What you need and what the government is consulting on right at the moment, actually, is a supply-side policy,
00:30which is what kind of production incentive needs to exist to effectively level the playing field with some of the
00:37international players.
00:38Not totally, but at least partially.
00:42And then the second thing is how do you put in place a demand mechanism, a mandate or similar, that
00:48would build from a small percentage over time as the industry scales.
00:52You need those two things in place in a durable way to stand up a domestic industry.
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