{"id":82176,"date":"2024-02-05T00:00:00","date_gmt":"2024-02-05T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2024\/02\/05\/adnoc-and-posco-explore-blue-hydrogen-production-in-korea\/"},"modified":"2024-02-05T00:00:00","modified_gmt":"2024-02-05T00:00:00","slug":"adnoc-and-posco-explore-blue-hydrogen-production-in-korea","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2024\/02\/05\/adnoc-and-posco-explore-blue-hydrogen-production-in-korea\/","title":{"rendered":"Adnoc and Posco explore blue hydrogen production in Korea"},"content":{"rendered":"

<\/strong>Adnoc + Posco partner on blue hydrogen production in S. <\/strong>Korea<\/strong>: <\/strong>The Abu Dhabi National Oil Company (Adnoc) has signed a strategic cooperation agreement with South Korea\u2019s largest steelmaking company<\/a>Posco Holdings<\/a> to build a low-carbon blue hydrogen production plant at the latter\u2019s Gwangyang LNG terminal in South Korea, The Korea Herald<\/a> reported last week. The financials of the agreement were not disclosed.<\/p>\n

REFRESHER- What is blue hydrogen? <\/strong>Blue hydrogen is created<\/a> from natural gas or other methane sources through a process called steam methane reforming (SMR), which uses high-temperature steam to produce hydrogen and CO2. Blue hydrogen uses carbon capture and storage (CCS) tech to prevent the CO2 from being emitted, rendering it low-carbon.<\/p>\n

What\u2019s next? <\/strong>The South Korean steelmaker and its trading arm Posco International<\/a> will partner with Adnoc to conduct a feasibility study this year to evaluate CCS viability and the construction process, Business Korea<\/a> (BK) reports.<\/p>\n

Part of Korea\u2019s big industrial decarbonization plans: <\/strong>The blue hydrogen produced would first be used at the company\u2019s Gwangyang steel mill and then extend to other demand centers in South Korea like Hadong and Yeosu beginning in 2029. The Korean firms aim to leverage Adnoc\u2019s carbon capturing and storage expertise as part of a target to secure a clean hydrogen supply system of some 1.26 mn tons by 2035, according to BK.<\/p>\n

Banking on a wealth of experience: <\/strong>Adnoc \u2014 which ahead of COP28 said it intends to double its targeted carbon capacity to 10 mn tons<\/a> by 2030 \u2014 has announced a strategic partnership<\/a> with MENA fertilizers firm Fertiglobe for the pilot deployment of the world\u2019s first cost-effective modular carbon capture unit. The company also reached a final investment decision<\/a> to set up one of the region\u2019s largest carbon capture projects in the UAE, inked an agreement<\/a> with Australia\u2019s Santos to establish a joint carbon management program in the Asia-Pacific region, and last month acquired a 10.1% stake<\/a> in UK-based CCS and blue hydrogen project developer Storegga.<\/strong><\/p>\n

Posco has ties to the region: <\/strong>Back in June, Posco was awarded a USD 6.7 bn contract<\/a> to set up what it said will be the world\u2019s largest green hydrogen plant in Oman\u2019s Duqm. Later in July, Posco signed an agreement<\/a> with KSA\u2019s Acwa Power to jointly develop green hydrogen and its derivatives.<\/p>\n

And plans to spend USD bns to decarbonize: <\/strong>The global steel industry accounts for about 8% of global greenhouse gas emissions, generating around 1.85 tons of CO2 per steel ton, and Posco remains South Korea\u2019s largest corporate emitter. The company estimates its carbon-neutrality ambitions would have a 40 tn KRW<\/a> (USD 30 bn) price tag and require the development of nine clean hydrogen production plants. The company said it plans to allocate some USD 93 bn<\/a> to scale its hydrogen, battery materials, and steel production sectors and raised USD 500 mn<\/a> last month in three-year green bonds to help realize that target.<\/p>\n","protected":false},"excerpt":{"rendered":"

South Korea\u2019s largest steelmaker aims to leverage Adnoc\u2019s carbon capturing and storage expertise to produce blue hydrogen from natural gas at its Gwangyang LNG terminal<\/p>\n","protected":false},"author":1,"featured_media":82177,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[301],"tags":[80,300,11,298,299],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-82176","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blue-hydrogen","tag-adnoc","tag-blue-hydrogen","tag-enterpriseclimate","tag-hydrogen","tag-south-korea","wpautop","entry"],"acf":{"mongo_id":"81d9c9c6-bd54-40bd-8564-7660513ffe49","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/2\/209.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Adnoc and Posco explore blue hydrogen production in Korea","related_issue":[82164],"teaser":"South Korea\u2019s largest steelmaker aims to leverage Adnoc\u2019s carbon capturing and storage expertise to produce blue hydrogen from natural gas at its Gwangyang LNG terminal","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/2\/.35672e00-0f43-4bc1-a711-e8f6ffd434b1.mp3"},"yoast_head":"\nAdnoc and Posco explore blue hydrogen production in Korea - 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