Press Release

Bangkok, 13 September 2023 – PTTEP and POSCO Holdings, a holding company of Korean conglomerate POSCO Group, have extended their collaboration to explore opportunities across the entire blue and green hydrogen value chain and CCS projects, aiming to propel the advancement of clean energy and grow the sustainable business together.

Mr. Montri Rawanchaikul, Chief Executive Officer of PTT Exploration and Production Public Company Limited (PTTEP), revealed that PTTEP signed a Memorandum of Understanding (MoU) with POSCO Holdings to collaboratively explore business opportunities associated with new form of clean energy and the reduction of carbon emissions. The emphasis will be placed on blue and green hydrogen value chain and Carbon Capture and Storage (CCS) in strategic geography. Both companies will also collaborate on the research and development of technologies necessary for the realization of business opportunities.

PTTEP and POSCO Holdings will leverage their expertise and experience in jointly searching opportunities related to clean energy development and other relevant ventures, all in the pursuit of sustainable growth and the reduction of greenhouse gas emissions, aligned with the companies’ objectives.

The MoU was signed during the H2 Mobility Energy Environment Technology (H2 MEET 2023), a prominent hydrogen-focused conference and exhibition held in South Korea.

PTTEP and POSCO Holdings previously established a consortium with other four leading multinational companies, securing the contract for the development of a sizable green hydrogen production project in Block Z1-02, in the Sultanate of Oman. The project is targeted to produce green hydrogen of approximately 220,000 tons per year by 2030.