United States Steel Corp., Equinor U.S. Holdings Inc. and Shell U.S. Gas & Power LLC will collaborate to develop a clean energy hub focused on decarbonization, carbon capture, utilization and storage (CCUS) and hydrogen production and utilization.
According to a press release announcing the partnership on Aug. 16, the companies entered a non-exclusive cooperation agreement. Shell and Equinor are jointly applying for funding from the U.S. Department of Energy to support the regional hub development while U.S. Steel evaluates its potential role, which could include funding participant, customer, supplier or partner.
Through the development of the network of hubs, both the United States and the project partners would be a step closer to realizing their 2050 net-zero carbon emissions target.
“We’re proud of the collaboration with Equinor and U. S. Steel,” Lee Stockwell, general manager for U.S. carbon capture and storage for Shell and signee of the agreement, said in the release. “Together, we’ll continue to leverage our deep technical experience, existing networks, and seek to buildout the partnership with our customers and other partners.”
The hubs will span the Ohio-West Virginia-Pennsylvania region, an area with an abundance of low carbon gas, a robust industrial sector and a skilled workforce, making it a strategic location.
To develop the hubs, the collaborating companies will engage the local industry, labor, educational institutions and communities, which will generate sustainable jobs, in turn stimulating regional economic growth.
“Establishing a low carbon hub in this region could have a profound impact on both the climate and the economy, creating sustainable jobs that will support families for many years to come,” Grete Tveit, senior vice president of Equinor Low Carbon Solutions, added.
“For 14 years we have been engaged and investing in this region, and our significant equity gas production in the Appalachia region has proved to be an important low carbon asset in our portfolio. In collaboration with partners and the local community, we’re proud to advance this initiative and America’s net-zero future.”
Recommended Reading
Pembina Pipeline to Renew Share Repurchase Program
2024-05-14 - Pembina Pipeline has approval from the Toronto Stock Exchange to purchase up to 5% of its outstanding common shares.
ProPetro Adds Exxon Designee Volkov to Board
2024-05-14 - Alex Volkov is currently the transition executive tasked with planning the integration of Pioneer Natural Resources and Exxon Mobil.
MidOcean Appoints Lumens to CFO
2024-05-14 - Armand Lumens most recently served as the group CFO of Neptune Energy, where he helped develop the company’s financial and IT strategies.
TotalEnergies to Invest $400MM in LPG
2024-05-14 - TotalEnergies is investing more than $400 million into LPG to provide more than 100 million people in Africa and Asia access to clean cooking methods by 2030.
PropFlow Names David Ward as CEO
2024-05-13 - As CEO, David Ward will lead and build out PropFlow’s operations of eliminating debris from proppant at well sites in the Permian Basin and other plays.