U.S. Steel Corp. is partnering with Norwegian energy major Equinor ASA to exploration the feasibility of a hydrogen hub in Ohio, Pennsylvania and West Virginia.
In a June 29 release, U.S. Steel announced the partnership through an execution of a non-exclusive memorandum of understanding with Equinor US Holdings Inc. to study the potential for carbon capture and storage (CCS) and hydrogen development in the tri-state region.
Founded in 1901, U.S. Steel is a leading steel producer headquartered in Pittsburgh with additional operations across the U.S. and Central Europe. The company, which has an annual raw steelmaking capability of 26.2 million net tons, expects the Equinor partnership to help it achieve its decarbonization goals.
“The successful development of hydrogen and CCS technology in the tri-state region will require investment, cooperation, and exploration across political and perceived barriers,” commented Richard Fruehauf, senior vice president and chief strategy and sustainability officer for U.S. Steel, in the company release. “As we build momentum toward our ambitious goal targeting net-zero carbon emissions by 2050, the opportunity to explore the potential for a hydrogen hub in this region—anchored in the Mon Valley—is cause for optimism.”
The initial focus of the partnership is to assess the technological and commercial possibilities for hydrogen and CCS with plans to explore and demonstrate the potential opportunities for natural gas when coupled with CCS to achieve decarbonization goals.
Further, the release noted the scope of work will include assessments of regional hydrogen and CCS potential, appropriate customer and supplier screenings, blue hydrogen advocacy, CCS and examining renewable energy synergies.
Recommended Reading
Marathon Petroleum Sets 2024 Capex at $1.25 Billion
2024-01-30 - Marathon Petroleum Corp. eyes standalone capex at $1.25 billion in 2024, down 10% compared to $1.4 billion in 2023 as it focuses on cost reduction and margin enhancement projects.
Hess Corp. Boosts Bakken Output, Drilling Ahead of Chevron Merger
2024-01-31 - Hess Corp. increased its drilling activity and output from the Bakken play of North Dakota during the fourth quarter, the E&P reported in its latest earnings.
The OGInterview: Petrie Partners a Big Deal Among Investment Banks
2024-02-01 - In this OGInterview, Hart Energy's Chris Mathews sat down with Petrie Partners—perhaps not the biggest or flashiest investment bank around, but after over two decades, the firm has been around the block more than most.
Some Payne, But Mostly Gain for H&P in Q4 2023
2024-01-31 - Helmerich & Payne’s revenue grew internationally and in North America but declined in the Gulf of Mexico compared to the previous quarter.
Petrie Partners: A Small Wonder
2024-02-01 - Petrie Partners may not be the biggest or flashiest investment bank on the block, but after over two decades, its executives have been around the block more than most.