JERA Has Concluded a Joint Collaboration Agreement with POSCO International to Realize Low Carbon Fuel Value Chains2024/09/26

JERA Co., Inc (“JERA”) has concluded a Joint Collaboration Agreement with POSCO International Corporation (“POSCO INT’L”), to realize low carbon fuel value chains.

Under the agreement, JERA and POSCO INT’L will jointly collaborate to accelerate the development of a robust and resilient value chain of low carbon fuel through the following approaches:
・Standardization of commercial frameworks
・Optimization of each party’s ammonia portfolio by enhancing operational flexibility through joint studies
・Joint efforts to discuss with both governments to establish and expand low carbon fuel value chain

To guide this effort, the government of Japan and the Republic of Korea (“ROK”) have launched “Japan-ROK Hydrogen and Its Derivatives such as Ammonia Cooperation Dialogue”, a program designed to enhance collaboration across several key areas.

Ryosuke Tsugaru, Chief Low Carbon Fuel Officer of JERA said, " We are pleased to have established another cooperative framework with POSCO INT’L, a subsidiary of a major ROK conglomerate with a significant presence in the steel industry. JERA strives for positioning us at the forefront of the energy transition in Asia through accelerating our decarbonization efforts, not only within the power sector but also across other sectors, including Hard-to-Abate industries.”

Hyeon Park, Executive Vice President, Head of Energy Business Development Group of POSCO INT’L said, " We are pleased to announce our strategic partnership with JERA, a leading company in Japan's power industry. We believe that this partnership between POSCO INT’L and JERA will be beneficial to our efforts in transitioning to low carbon energy."

JERA will continue to take the lead in strengthening and diversifying low carbon fuel value chains regionally, nationally and internationally, and contribute to global decarbonization and to solving energy issues, particularly in Asia.

About POSCO INT’L
POSCO INT’L is one of ROK’s leading companies and is engaged in the trading of steel, chemical, electronic and automobile products, as well as energy resource and infrastructure development. POSCO INT’L has established ‘2050 Carbon Neutrality Roadmap’ containing carbon reduction goals and implementation strategies, designed to comply with the GHG reduction targets established by the ROK 2030 NDC. POSCO INT’L was founded in 1967 and is headquartered in Incheon, South Korea.

About JERA Co., Inc.
Established in 2015, JERA is an equal joint venture of two major Japanese electric power companies, TEPCO Fuel & Power Incorporated and Chubu Electric Power Company and produces about 30% of all electricity in Japan. JERA is an energy company with global reach that has strength in the entire energy supply chain, from participation in LNG upstream projects and fuel procurement, through fuel transportation to power generation. JERA, which stands for Japan’s Energy for a New Era, will take on the challenge of achieving zero CO2 emissions from its domestic and overseas businesses by 2050 and is supporting an energy transition in an environmentally and socially responsible manner.