POSCO Int’l teams up with UAE for blue hydrogen

The S.Korean company signed SCA with the ADNOC for joint pursuit of low-carbon hydrogen production and supply

POSCO Int’l teams up with UAE for blue hydrogen
Sang Hoon Sung 1
2024-01-31 17:35:31 uphoon@hankyung.com
Hydrogen economy

POSCO International Corp. and POSCO Holdings Inc. announced on Wednesday that they signed a strategic collaboration agreement (SCA) with the Abu Dhabi National Oil Company (ADNOC), the state-owned oil company in Abu Dhabi, United Arab Emirates (UAE).

Under the terms of the agreement, they will jointly participate in projects related to the production and supply of blue hydrogen utilizing liquefied natural gas (LNG) and carbon capture and storage (CCS) to reduce carbon emissions.

The POSCO Group plans to establish blue hydrogen production infrastructure in connection with POSCO International's Gwangyang LNG Terminal.

The hydrogen thus produced will be supplied to nearby consumers, including the Gwangyang Steelworks, as well as Hadong and Yeosu, starting in 2029.

In addition, they will collaborate on CCS projects to obtain recognition for the produced blue hydrogen as clean hydrogen.

ADNOC, widely acknowledged as a global leader in the CCS field, is considered an excellent partner for this clean hydrogen production project, according to POSCO International.

Starting this year, the three companies will work on building clean hydrogen production facilities at the Gwangyang LNG Terminal and initiate a joint feasibility study for the project, including carbon dioxide capture and the scale estimation of the liquefaction terminal.

Write to Sang Hoon Sung at uphoon@hankyung.com
#POSCO International #POSCO Holdings #ADNOC #carbon capture and storage #Gwangyang LNG Terminal

POSCO International to step up global expansion after hefty profits

POSCO International to step up global expansion after hefty profits

POSCO’s drive motor core factory was completed in Ramos Arizpe, Mexico in October 2023 POSCO International Corp. will step up global expansion in 2024 with a focus on electric vehicle components, eco-friendly energy exploration and grain trading as it is expected to post its highest-ever

POSCO International foresees record-high profits for 2023

POSCO International foresees record-high profits for 2023

POSCO International Corp., a South Korean general trading and energy exploration company, is expected to post its highest-ever profits this year thanks to steady earnings growth in the energy business and rising eco-friendly materials shipments to Europe, a company official said on Sunday.Its

POSCO International wins green car parts orders from US, Europe

POSCO International wins green car parts orders from US, Europe

EV (Courtesy of POSCO International) POSCO International Corp., the general trading and energy exploration unit of South Korea’s steel giant POSCO Holdings Inc., is accelerating its push to nurture the green car component business as a new growth driver after winning a series of eco-frien

POSCO International wins $761 mn EV parts supply deal from US carmaker

POSCO International wins $761 mn EV parts supply deal from US carmaker

POSCO International's headquarters building in Songdo, Incheon POSCO International Corp., the general trading and energy exploration unit of South Korea’s steel giant POSCO Holdings Inc., has won a 1 trillion won ($761 million) deal to supply electric vehicle components to a US automaker.

POSCO International, Lotte Energy in $4.4 bn battery materials supply deal

POSCO International, Lotte Energy in $4.4 bn battery materials supply deal

Executives from Lotte Energy Materials and POSCO International sign a copper foil raw material supply deal POSCO International Corp. has signed a 6 trillion won ($4.4 billion) deal to supply raw materials used to make copper foil, a battery component, to Lotte Energy Materials Co. over the next
(* comment hide *}