Posco International, the trading arm of Posco Group, announced it will expand its partnership with a Norwegian energy company in offshore wind power, steel supply, and liquefied natural gas (LNG) delivery. The two firms signed an agreement to jointly develop offshore wind projects, supply steel products, and cooperate in LNG trading. This builds on an initial partnership agreement signed in 2023.
Posco International announced on October 29 that it will expand its strategic partnership with the Norwegian energy company Equinor in the fields of offshore wind power, steel supply, and LNG delivery. The agreement covers joint development of offshore wind projects, supply of steel products for those projects, and cooperation in LNG trading.
The two companies first signed an initial partnership agreement in 2023. "We will strengthen our competitiveness in the global energy market through a strategic partnership with Equinor. The combination of the two firms' expertise will allow them to take the lead in renewable energy and low-carbon fuels," said Lee Kye-in, President and CEO of Posco International.
The company expects Posco Group's capabilities in steel, energy, and infrastructure, combined with Equinor's advanced technologies in offshore wind power generation, to create a sustainable low-carbon business ecosystem and lead the upcoming 'energy mix' era. This partnership aims to address growing global demand for renewable energy and low-carbon fuels.