U.S. Steel Decides to Execute Non-Exclusive MoU with Equinor

SEATTLE (Scrap Monster): Pittsburgh-based steel manufacturer United States Steel Corporation (U.S. Steel) has decided to execute the non-exclusive Memorandum of Understanding (MoU) with Equinor US Holdings Inc.

Under the terms of the agreement, the two companies will collaborate on exploring the potentials for carbon capture and storage (CCS) and hydrogen development in the tri-state region of Ohio, Pennsylvania, and West Virginia. It must be noted that CCS and hydrogen-based processes are the current trend in global steel industry.

The MoU will assess the technological and commercial possibilities for hydrogen and CCS. Also, the collaboration will explore the potential opportunities for using natural gas along with CCS in reducing carbon emissions. The success of the trial will help the steelmaker to achieve its carbon reduction targets.

Commenting on the development, Richard Fruehauf, Senior Vice President, Chief Strategy & Sustainability Officer at U.S. Steel noted that the successful development calls for significant investment, cooperation, and exploration across political and perceived barriers. The optimistic move will add momentum to its efforts to reach its earlier stated goal of net-zero carbon emissions by 2050, he added.

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