Abu Dhabi National Oil Co. (ADNOC) and South Korea’s POSCO International have signed a strategic agreement to jointly assess the production of blue hydrogen from POSCO’s LNG terminal in Gwangyang, POSCO reported on Jan. 31, according to Bloomberg.
The two companies will push for operations to produce and supply blue hydrogen, as well as work on carbon capture and storage. The companies will supply the fuel to meet demand in South Korea, including POSCO’s Gwangyang steel mill, from 2029.
The agreement is part of POSCO’s effort to expand its hydrogen production
capacity to 1.26 million mt/y by 2035.
POSCO is evaluating a blue ammonia project with CF Industries Holdings Inc. at
CF’s Blue Point Complex in Ascension Parish, La. (GM Sept. 15, 2023). A
Front-End Engineering Design (FEED) study is expected to be completed in the
second half of 2024, with a final investment decision by CF and POSCO to
follow. The proposed facility would cost approximately $2 billion.
Saudi Arabia’s ACWA Power and POSCO have also announced the signing of a Memorandum of Understanding (MOU) to jointly explore production of green hydrogen and green ammonia (GM July 29, 2022).