Woodside Energy has signed a non-binding memorandum of understanding (MoU) with South Korea’s SK E&S to develop a lower-carbon hydrogen value chain.
Under the MoU, Woodside and SK E&S will jointly explore long-term ammonia and hydrogen offtake arrangements, equity participation in ammonia and hydrogen production projects and project engineering supply opportunities.
Both parties will consider existing and proposed policies of South Korea and Australia which could help facilitate lower-carbon hydrogen value chain development.
Woodside executive vice president new energy Shaun Gregory said the MoU reflected the demand for large-scale decarbonised energy solutions such as lower-carbon hydrogen and ammonia.
“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 us 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.”
The announcement follows Woodside signing a sales and purchase agreement with Pilgangoora Operations for the supply of domestic LNG from the Pluto Truck Loading Facility.
Supply under the SPA will commence in late 2024 for a period of five years and the average volume to be supplied is 3.4 terajoules per day.
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