PTTEP (PTT Exploration and Production Public Company Limited) and POSCO Holdings, the holding company of the POSCO Group, have extended their collaborative efforts to explore opportunities in the blue and green hydrogen value chain as well as Carbon Capture and Storage (CCS) projects. The aim is to advance clean energy initiatives and foster sustainable business growth.
Mr. Montri Rawanchaikul, CEO of PTTEP, announced the signing of a Memorandum of Understanding (MoU) between PTTEP and POSCO Holdings. Under this agreement, both companies will jointly explore business opportunities related to new forms of clean energy and carbon emissions reduction, with a strong focus on the blue and green hydrogen value chain and CCS projects in strategically significant locations. Additionally, the collaboration will involve research and development efforts to support the realization of these business opportunities.
Leveraging their respective expertise and experience, PTTEP and POSCO Holdings will actively seek opportunities in clean energy development and related ventures, aligning their efforts with the goal of sustainable growth and reducing greenhouse gas emissions.
This MoU signing took place during the H2 Mobility Energy Environment Technology (H2 MEET 2023) conference and exhibition, a prominent event in South Korea dedicated to hydrogen-focused discussions and innovations.
Notably, PTTEP and POSCO Holdings had previously formed a consortium with four other major multinational companies. Together, they secured a contract for the development of a significant green hydrogen production project located in Block Z1-02, in the Sultanate of Oman. The project’s ambitious target is to produce approximately 220,000 tons of green hydrogen per year by 2030, contributing to the global transition toward cleaner energy sources.