Woodside and SK E&S Work Together on Ammonia and Hydrogen
A non-binding Memorandum of Understanding was signed between Woodside, an Australian company, and SK E&S, a South Korean company, to facilitate research on the possible creation of a lower-carbon hydrogen value chain that includes hydrogen, ammonia, and other related products.
In accordance with the agreement, Woodside and SK E&S will work together to investigate prospects for long-term offtake agreements for hydrogen and ammonia, equity participation in hydrogen and ammonia production projects, and supply potential for project engineering.
Both sides will also take into account Australian and South Korean government initiatives, both current and proposed, that may aid in the development of a lower-carbon hydrogen value chain.
The agreement, according to Woodside Executive Vice President of New Energy Shaun Gregory, reflects the growing demand from Woodside's industry partners in the Asia Pacific area for large-scale decarbonized energy solutions including lower-carbon hydrogen and ammonia.
By 2025, SK E&S hopes to have a 35 trillion won corporate value and establish itself as a significant global player in the green energy sector. The CEO and President of SK E&S, Choo Hyung-wook, stated that the company was not content with its standing as the top city gas supplier in Korea. He stated, "SK E&S's 'Financial Story' began with a commitment that we had to stop being an energy company and not ignore the climate change and crisis anymore."
The goal to create a unique green portfolio based on SK E&S's four main businesses—hydrogen, renewables, energy solutions, and green LNG—as well as the company's aspiration to become a significant global energy player in the future are detailed in the company's financial story.
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