South Korea-based POSCO International, a subsidiary of steelmaker POSCO Group, has announced that it has signed a collaboration agreement with POSCO Group and Abu Dhabi National Oil Company (ADNOC), a state-owned oil company in the UAE, to build blue hydrogen production facilities at Posco International’s liquefied natural gas terminal in Gwangyang in South Korea. This project is POSCO International’s first official step in the domestic clean hydrogen supply business.
The companies will produce blue hydrogen using liquefied natural gas and promote carbon capture and storage projects to reduce carbon emissions. The hydrogen thus produced will be supplied to nearby consumers, including the Gwangyang Steelworks, as well as Hadong and Yeosu, starting in 2029. Starting this year, the three companies plan to begin a joint investigation for business feasibility.
POSCO Group aims to build a supply system for 1.26 million mt of clean hydrogen by 2035.
