In its press release of 3rd March 2021, Hyundai Heavy Industries Holdings (HHIH) announced a non-binding MoU for a research and development opportunity, not a commercial agreement.

Aramco is exploring with HHIH collaboration on research and development opportunities in blue hydrogen and ammonia. Utilization and application in targeted markets in South Korea are also part of the collaboration; and there is no intention for any CO2 transportation.

A related aspect of the MoU is also to study other after treatment technologies for marine fuels.