Woodside SK E&S JV Low carbon hydrogen

[Sparty]

Woodside Energy and SK E&S's MoU to develop a lower-carbon hydrogen value chain:

The Agreement:

Parties: Woodside Energy, an Australian energy company, and SK E&S, a South Korean conglomerate focused on energy and solutions.

Purpose: To jointly explore the potential for developing a lower-carbon hydrogen value chain in the Asia Pacific region.

Scope: Includes hydrogen, ammonia, and other related products.

Focus areas:
Long-term offtake arrangements for ammonia and hydrogen.
Equity participation in production projects.
Project engineering and supply opportunities.
Consideration of government policies in both countries to support development.

Significance:
Reflects growing demand for low-carbon energy solutions: Shaun Gregory, Woodside's Executive Vice President of New Energy, highlighted the increasing interest in lower-carbon hydrogen and ammonia from partners in the region.

Positions Woodside for key role in hydrogen market:
With its experience in complex energy projects, Woodside aims to be a major player in the emerging hydrogen value chain, particularly for South Korean partners.

Supports both countries' climate goals: Both Australia and South Korea have ambitious net-zero targets, and this collaboration could contribute to achieving those goals.

Current Stage:

Non-binding: The MoU is a preliminary agreement to explore possibilities, not a definitive commitment to any specific projects.

Early stage: Studies and discussions are just beginning, and it may take some time before concrete plans are developed.

Overall, this MoU represents a significant step forward for the development of a lower-carbon hydrogen industry in the Asia Pacific region. While it's still early days, the collaboration between Woodside and SK E&S has the potential to play a major role in meeting the region's growing demand for clean energy solutions.

https://www.woodside.com/docs/defaul...lue-chain-.pdf

[Sparty]

https://www.skens.com/en/sk/content/...e=energy&m1=h2