SK E&S and Woodside Collaborate on Hydrogen and Ammonia

Australia-based Woodside and South Korea’s SK E&S have signed a non-binding Memorandum of Understanding to enable studies on the potential development of a lower-carbon hydrogen value chain, including hydrogen, ammonia and other related products.

Under the agreement, Woodside and SK E&S plan to jointly explore opportunities relating to long-term ammonia and hydrogen offtake arrangements; equity participation in ammonia and hydrogen production projects; and project engineering supply opportunities.

In addition, both parties will consider existing and proposed government policies of South Korea and Australia that could help facilitate lower-carbon hydrogen value chain development.

Woodside Executive Vice President New Energy Shaun Gregory said the agreement reflected the increasing demand for large-scale decarbonised energy solutions such as lower-carbon hydrogen and ammonia from Woodside’s industry partners in the Asia Pacific region.

In 2021, SK E&S announced its goal of becoming a major global green energy company with corporate value of 35 trillion won by 2025. Choo Hyung-wook, CEO and President of SK E&S, said SK E&S wasn’t complacent about its position as Korea’s leading city gas provider. “SK E&S’s 'Financial Story' began with commitment that we had not to turn a blind eye to climate change and crisis anymore as an energy company,” he said.

SK E&S’s Financial Story contains its plan to build a differentiated green portfolio driven by its four core businesses - hydrogen, renewables, energy solutions and green LNG - and its idea of growing more competitive to become a major global energy company in the future.