The Hydrogen Convergence Alliance (Chairman Jae-do Moon, hereinafter H2KOREA) and Saudi Aramco (hereinafter Aramco) have joined hands to develop and revitalize the hydrogen and ammonia supply chain and utilization industries, as well as the future hydrogen industry in both countries.

On the 18th, the Hydrogen Alliance and Aramco signed a Memorandum of Understanding (MOU) to support the creation of a hydrogen industry ecosystem and the establishment of a hydrogen energy supply chain.

Through this MOU, H2KOREA actively supports hydrogen business cooperation with Aramco.

Based on Korea's hydrogen utilization and infrastructure construction technology and Saudi Arabia's potential competitiveness in hydrogen and ammonia production, the two organizations agreed to discover a cooperation model that maximizes the strengths of both countries, develop technologies to maximize synergy, and explore ways to collaborate on hydrogen supply chain feasibility studies and pilot projects.

In particular, H2KOREA and Aramco plan to establish a hydrogen value chain between the two countries, encompassing the production, storage, transportation, distribution, and utilization of hydrogen and ammonia, as well as explore ways to foster a hydrogen ecosystem in Saudi Arabia.

The two organizations agreed to cooperate in the following areas to vitalize the hydrogen industries in both countries: △exchange of hydrogen industry information between the two countries, △regular exchange of policies and industries, △hosting of seminars and conferences, △cooperation on regulations and incentives related to hydrogen and ammonia trade, and △establishment of strategies to build a hydrogen supply chain.

Moon Jae-do, Chairman of H2KOREA, said, “Saudi Arabia and Korea have long-standing energy cooperation in areas such as crude oil and plant construction, and this MOU will serve as an important turning point for both countries to work together to prepare for the future energy transition era.” He added, “The MOU with Aramco will serve as an opportunity to promote cooperation in the hydrogen industry between the two countries, and H2KOREA will actively strive to create synergy with Aramco and major Korean hydrogen companies.”

Olivier Torel, Aramco Executive Vice President of Chemicals, said, “Aramco aims to leverage our ammonia production capacity and Saudi Arabia’s vast natural gas resources to produce low-carbon hydrogen, contributing to Korea’s ambitious low greenhouse gas energy goals, particularly in hard-to-mitigate sectors. Through this agreement, we hope to explore opportunities to advance the application and commercial viability of low-carbon fuel sources, and we believe this will play a key role in Korea’s energy transition.”