Global low carbon energy company Engie & leading South Korean steel-manufacturer Posco have signed a Memorandum of Understanding to explore joint development opportunities for green hydrogen production and related infrastructure in the Middle East, Australia and Latin America. Under the MoU, ENGIE will leverage its existing industrial-scale renewable hydrogen value-chain experience to support POSCO's hydrogen production. The MoU sets to support POSCO's objective of securing a steady, competitively priced supply of green hydrogen, enabling its transition to green steelmaking and to participation in green hydrogen economy.A key aspect of the deal is to target cost-competitive production of green hydrogen and with the target focus on regions with high renewable energy production the facilities created in these areas will support this.The MOU supports ENGIE's ambition to achieve net-zero carbon by 2045, and POSCO's ambition to realize a green hydrogen base in their steel business by 2050 and become a leader in the age of post-carbon hydrogen in steelmaking, fostering the growth of hydrogen ecosystem across the entire value chain.
Global low carbon energy company Engie & leading South Korean steel-manufacturer Posco have signed a Memorandum of Understanding to explore joint development opportunities for green hydrogen production and related infrastructure in the Middle East, Australia and Latin America. Under the MoU, ENGIE will leverage its existing industrial-scale renewable hydrogen value-chain experience to support POSCO's hydrogen production. The MoU sets to support POSCO's objective of securing a steady, competitively priced supply of green hydrogen, enabling its transition to green steelmaking and to participation in green hydrogen economy.A key aspect of the deal is to target cost-competitive production of green hydrogen and with the target focus on regions with high renewable energy production the facilities created in these areas will support this.The MOU supports ENGIE's ambition to achieve net-zero carbon by 2045, and POSCO's ambition to realize a green hydrogen base in their steel business by 2050 and become a leader in the age of post-carbon hydrogen in steelmaking, fostering the growth of hydrogen ecosystem across the entire value chain.
