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KEPCO Joins Hands with Aramco to Pave the Way for Clean Ammonia Project

KEPCO, Aramco, POSCO, and Lotte Chemical ink LOI for introducing low-carbon ammonia, marking a shift towards cleaner energy solutions
Japan
k 9503.TSE p 005490.KO l 011170.KO p 003670.KO Blue Chip 150 Mid and Small Cap 2000
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KEPCO announced a letter of intent (LOI) with Saudi state-owned firm Aramco to engage in a domestic clean ammonia initiative. The partnership, which includes POSCO Holdings, Lotte Chemical, aims to introduce low-carbon, clean ammonia to South Korea. Aramco, the world’s largest oil and gas company, plans to produce 10 million tons of clean ammonia annually starting in 2030 using natural gas-based carbon capture and storage (CCS) technology. KEPCO intends to collaborate with POSCO Holdings and Lotte Chemical to negotiate specific terms for long-term clean ammonia purchases and investment in Aramco’s blue ammonia business. Additionally, KEPCO signed an MOU with the Saudi Electricity Corporation (SEC) for technological cooperation and business joint development in the grid field. The companies will focus on applying advanced technologies like ultra-high voltage direct current transmission (HVDC) to enhance the Saudi electric power sector.

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