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POSCO Group and ADNOC Forge Alliance for Blue Hydrogen and CCS Projects

Strategic Collaboration Aims to Advance Clean Hydrogen Production in South Korea by 2029
South Korea
p 047050.KO p 005490.KO Mid and Small Cap 2000 Blue Chip 150
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POSCO International Corp. and POSCO Holdings Inc. have entered into a strategic collaboration agreement with the Abu Dhabi National Oil Company (ADNOC), marking a significant step towards advancing clean hydrogen production and carbon capture and storage (CCS) initiatives. This partnership underscores a shared commitment to reducing carbon emissions and promoting sustainable energy solutions.

The collaboration will focus on the development of blue hydrogen production using liquefied natural gas (LNG) and CCS technologies. The POSCO Group aims to build the necessary infrastructure for blue hydrogen production at the POSCO International Gwangyang LNG Terminal, intending to begin hydrogen supply to regions including Gwangyang Steelworks, Hadong, and Yeosu by 2029.

A key aspect of this partnership is the collaboration on CCS projects to ensure the produced blue hydrogen is recognized as clean hydrogen. ADNOC, a global leader in CCS technology, is poised to be an ideal partner for POSCO in this clean hydrogen production project, bringing valuable expertise and resources to the venture.

The agreement sets the stage for the three entities to commence work on establishing clean hydrogen production facilities at the Gwangyang LNG Terminal starting this year. They will also conduct a joint feasibility study to assess carbon dioxide capture processes and determine the scale of the liquefaction terminal required for the project.

This strategic alliance represents a pivotal move towards embracing cleaner energy sources and enhancing South Korea’s energy sustainability, aligning with global efforts to mitigate climate change impacts.

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