Woodside has signed a non-binding Memorandum of Understanding (MoU) with South Korea’s SK E&S company to collaborate on low-carbon hydrogen developments.
The MoU between the two companies will enable studies on the potential development of a lower carbon hydrogen value chain, including hydrogen, ammonia and other derivatives and related products.
Under the agreement, Woodside and SK will explore opportunities relating to long-term ammonia and hydrogen offtake arrangements; equity participation in ammonia and hydrogen production projects; and project engineering supply opportunities.
Both companies will also consider existing and proposed government policies of South Korea and Australia, which could support lower carbon hydrogen value chain development.
Shaun Gregory, Woodside Executive Vice President New Energy, said, “Woodside is well positioned to play a key role in the development of the hydrogen and ammonia value chain for partners in South Korea.
“This collaboration will help inform our development of the new energy products and services which could support our customers’ decarbonisation, unlock new market opportunities and support the broader Asia Pacific region in their climate goals and Net Zero aspirations.”
Last November (2023), it was announced South Korea and Japan would collaborate closer to build a hydrogen and ammonia supply chain. South Korea is aiming to develop 30,000 hydrogen-powered commercial vehicles by 2030, and build 70 liquid hydrogen fuelling stations, ensuring hydrogen meets 7.1% of its clean energy mix by 2036.
Read more:Japan and South Korea ‘to build hydrogen and ammonia supply chain’
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