Seoul: POSCO International Corp., the trading arm of POSCO Group, announced on Wednesday its plans to expand its partnership with a Norwegian energy company in the sectors of offshore wind power, steel supply, and liquefied natural gas (LNG) delivery.
According to Yonhap News Agency, the two companies have formalized an agreement to collaborate on developing offshore wind power projects, supplying steel products for these initiatives, and engaging in LNG trading. This follows an initial partnership agreement they signed 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," stated POSCO International President and Chief Executive Officer (CEO) Lee Kye-in.
POSCO International anticipates that POSCO Group's strengths in steel, energy, and infrastructure, combined with Equinor's advanced technologies in offshore wind power generation, will foster a sustainable low-carbon business ecosystem and spearhead the forthcoming "energy mix" era.