POSCO INTERNATIONAL has expanded its partnership with Norway’s Equinor to accelerate cooperation across offshore wind, steel supply, and liquefied natural gas (LNG), reinforcing efforts toward an energy mix transition.
On the 29th at Cheongsongdae, Pohang, the two companies signed a memorandum of understanding (MOU) to deepen collaboration in energy development. The ceremony was attended by POSCO INTERNATIONAL CEO Lee Kye-In and Equinor Korea CEO Bjørn Inge Braathen, along with key executives from both sides.
Through the agreement, POSCO INTERNATIONAL and Equinor will cooperate to jointly develop offshore wind projects, supply steel for wind infrastructure, enhance LNG procurement and supply, and pursue new joint initiatives through working groups.
This MOU builds on the 2023 agreement between the two firms and aims to convert individual project opportunities into tangible initiatives while strengthening implementation across the energy value chain.
CEO Lee Kye-In stated that the strategic alliance with Equinor will reinforce POSCO INTERNATIONAL’s global competitiveness in energy markets, emphasizing that both companies will lead future energy sectors, including renewables and low-carbon fuels, through shared expertise.
Equinor Korea CEO Bjørn Inge Braathen noted that the company will explore a wide range of new energy solutions both domestically and globally through close cooperation with POSCO INTERNATIONAL.
POSCO INTERNATIONAL currently operates a 14.5MW solar power facility and a 62.7MW onshore wind farm in Sinan, Jeollanam-do, while developing a 300MW offshore wind farm in nearby waters. The company is also engaged in co-development projects in the East Sea, expanding its renewable portfolio.
Equinor, Norway’s state-owned integrated energy company active in more than 30 countries, is developing the 750MW “Firefly” floating offshore wind project off the coast of Ulsan. The company obtained a power generation permit in the second half of 2021 and has been in constructive discussions with the government and obligated suppliers following the fixed-price bidding; discussions to assess investment viability and secure financing are still ongoing.
By leveraging POSCO Group’s strengths in steel, energy, and infrastructure together with Equinor’s offshore wind expertise, the companies aim to advance a partnership model that supports the shift toward sustainable low-carbon ecosystems and the global energy transition.
