ENGIE inked a Memorandum of Understanding (MoU) 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 the green hydrogen economy.
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 steel-making, fostering the growth of the hydrogen ecosystem across the entire value chain.
Both parties will cooperatively explore the business opportunities in potential projects in connection with the production, and supply of hydrogen/ammonia and the development of related infrastructures.
