Woodside Energy has signed a non-binding Memorandum of Understanding (MoU) with South Korea’s SK E&S Co. Ltd. (SK E&S) to enable studies on the potential development of a lower-carbon hydrogen value chain, including hydrogen, ammonia and other related products.

Under the MoU, 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.

Shaun Gregory, Executive Vice President - New Energy, Woodside  said the MoU 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.

“With more than 35 years of experience as a world-class developer and operator of complex energy production facilities, and as a safe and reliable energy provider, Woodside is well positioned to play a key role in the development of the hydrogen and ammonia value chain for partners in South Korea.

“This collaboration will help inform our development of the new energy products and services which could support our customers’ decarbonisation, unlock new market opportunities and support the broader Asia Pacific region in their climate goals and net zero aspirations,” he added.