Dubai: The Abu Dhabi National Oil Company (ADNOC) and South Korea’s GS Energy will explore opportunities to grow the emirate’s hydrogen economy and exports. ADNOC, which already produces hydrogen for its downstream operations, is looking to be a major exporter of the commodity.
“This agreement not only reflects ADNOC’s long-standing partnership with GS Energy and its affiliates, but also the great importance the UAE places on its strategic relationship with the Republic of Korea across multiple sectors,” said Sultan Al Jaber, ADNOC’s CEO. “Korean companies are significant stakeholders in several of Abu Dhabi’s upstream concessions and Korean contractors today play critical roles on major projects across our oil and gas value chain.”
ADNOC has been in strategic partnerships with GS Energy and other companies from Korea, including, most recently, GS Energy’s partnership with Intercontinental Exchange (ICE) on the launch of ICE Futures Abu Dhabi (IFAD).
“As a stakeholder and a partner of the ADNOC Upstream Concessions, we are excited to strengthen this partnership by jointly seeking opportunities within the blue hydrogen ecosystem,” said Yongsoo Huh, CEO of GS Energy.