Woodside Energy and South Korea’s SK E&S Co. Ltd. have signed a non-binding Memorandum of Understanding (MOU) to enable research on potentially developing a lower-carbon hydrogen value chain, including hydrogen, ammonia, and related products.
Under the MOU, both parties will explore opportunities in long-term ammonia and hydrogen offtake arrangements, equity participation in production projects and project engineering supply.
Additionally, Woodside and SK E&S will explore South Korean and Australian governments’ policies to aid in developing a lower-carbon hydrogen value chain.
According to Woodside Executive Vice President New Energy Shaun Gregory, the MOU reflects the growing demand for large-scale decarbonised energy solutions such as lower-carbon hydrogen and ammonia from Woodside’s business partners in Asia Pacific.
“With more than 35 years of experience as a world-class developer and operator of complex energy production facilities, and as a safe and reliable energy provider, Woodside is well positioned to play a key role in the development of the hydrogen and ammonia value chain for partners in South Korea,” Gregory said.
“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.”
