POSCO International has strengthened its strategic partnership with Norway’s Equinor to boost collaboration across the energy value chain, including offshore wind, liquefied natural gas (LNG) and steel supply, the companies said on Tuesday.
The two firms signed a new business agreement at Cheongsongdae in Pohang, building on a 2023 collaboration to develop joint projects and accelerate low-carbon initiatives. POSCO International President Lee Gye-in and Equinor Korea Chief Executive Bjorn Inge Braathen attended the ceremony.
“Through our strategic partnership with Equinor, we will further strengthen our competitiveness in the global energy market,” Lee said. “We will combine the expertise of both companies to lead the future energy field such as renewable energy and low-carbon fuels.”
Braathen added: “Based on close cooperation with POSCO International, we plan to explore various new energy solutions in the global market as well as in Korea.”
Under the expanded partnership, the companies aim to enhance joint development of offshore wind projects, supply offshore wind steel, coordinate LNG procurement, and explore additional new energy initiatives through a dedicated working group.
POSCO International currently operates 14.5 MW of solar and 62.7 MW of onshore wind in Shinan, South Jeolla Province, and is developing a 300 MW offshore wind farm nearby. Equinor is advancing the 750 MW Firefly floating offshore wind project off Ulsan.
The collaboration will leverage POSCO Group’s steel, energy, and infrastructure capabilities alongside Equinor’s offshore wind expertise to strengthen a global low-carbon ecosystem.
