Woodside has entered into a non-binding memorandum of understanding (MoU) with SK E&S, a subsidiary of South Korea’s SK Group.
This collaboration aims to spearhead studies on the potential development of a lower-carbon hydrogen value chain, covering hydrogen, ammonia, and related products.
Under the MoU, Woodside and SK E&S will embark on a joint exploration of various opportunities, including long-term ammonia and hydrogen offtake arrangements, equity participation in ammonia and hydrogen production projects, and project engineering supply prospects.
The partnership will also delve into the examination of existing and proposed government policies in both South Korea and Australia, with a specific focus on facilitating the development of a lower-carbon hydrogen value chain.
Shaun Gregory, Woodside’s Executive Vice President of New Energy, emphasised that the MoU reflects the surging demand for large-scale decarbonised energy solutions, particularly lower-carbon hydrogen and ammonia, from industry partners in the Asia Pacific region.
Leveraging Woodside’s extensive 35 years of experience as a world-class developer and operator of complex energy production facilities, Gregory highlighted the company’s strategic position to play a pivotal role in the development of the hydrogen and ammonia value chain for South Korean partners.
“This collaboration will contribute to shaping our development of new energy products and services, supporting our customers’ decarbonisation efforts, unlocking fresh market opportunities, and aiding the broader Asia Pacific region in achieving their climate goals and net-zero aspirations,” Gregory said.
The MoU symbolises a concerted effort by Woodside and SK E&S to contribute to the global transition towards cleaner and more sustainable energy sources, aligning with the increasing emphasis on addressing climate change and achieving net-zero targets.
In a related context, in April 2023, Woodside signed a non-binding heads of agreement (HoA) with Keppel Data Centres, the data center arm of Keppel Corporation, to evaluate the potential supply of liquid hydrogen to Singapore from Woodside’s production facilities.
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