Steel Mills
US Steel Partners with Shell and Equinor on Clean Energy Hub
Written by Becca Moczygemba
August 16, 2022
US Steel is going green. The Pittsburgh-based company has formed a non-exclusive alliance with Equinor US Holdings Inc. and Shell US Gas and Power LLC to establish a clean energy hub in the Ohio, Pennsylvania, and West Virginia tri-state area.
Infrastructure projects associated with this development will generate new jobs, encourage economic growth, and contribute to a decrease in carbon emissions. Steel Market Update previously covered the initial rumblings of this venture in June of 2021.
As part of the agreement, Equinor and Shell will file a joint application for funding from the US Department of Energy. US Steel is assessing its role in the venture and is considering contributing to funding, being a customer, supplier, or partner.
“US Steel is investing significant resources to achieve the sustainability goals in our Best for All® strategy, and we know we cannot do it all alone. Successfully addressing the climate crisis requires public and private collaborations,” said Richard L. Fruehauf, US Steel’s chief strategy & sustainability officer. “We cannot —and will not—stand still, and this agreement is another effort to advance profitable, sustainable steel solutions for people and the planet.”
The regional carbon capture, utilization and storage (CCUS) and hydrogen hub aligns with the US’ intentions to accomplish net-zero carbon emissions by 2050. US Steel intends to engage the public and private sectors for further development of the hub.
Have some news or just want to chat? Email me!
By Becca Moczygemba, Becca@SteelMarketUpdate.com
Becca Moczygemba
Read more from Becca MoczygembaLatest in Steel Mills
Ternium pushes forward with growth projects despite slump in earnings and Mexican market
Ternium S.A. Fourth quarter ended Dec.31 2024 2023 Change Net sales $3,876 $4,931 -21.4% Net income (loss) $333 $554 -39.9% Per diluted share $1.43 $2.11 -32.2% Full year ended Dec.31 Net sales $17,649 $17,610 0.2% Net income (loss) $174 $986 -82.4% Per diluted share $(0.27) $3.44 -108% (in millions of dollars except per share) While […]
Kestenbaum, Ancora state their case in proxy fight for U.S. Steel
Ancora Holdings is moving forward with its proxy fight to oust U.S. Steel’s leadership and install a new board of directors and Alan Kestenbaum as CEO.
BlueScope shelves midstream facility but still upbeat on US
BlueScope Steel is pulling back on its expansion plans in the US for now but remains optimistic about the North American market.
Japanese PM cites ‘unjust political interference’ in Nippon/USS deal: Report
Japan’s Prime Minister Shigeru Ishiba said on Monday that former President Joe Biden’s decision to block Nippon Steel’s buy of U.S. Steel was “unjust political interference,” according to a report in Reuters. This comes after another Reuters report on Friday saying that President Trump would not object to Nippon taking a minority stake in the […]
Trump says Nippon will ‘invest heavily’ in USS rather than buy it
Nippon Steel has agreed to “invest heavily in U.S. Steel as opposed to own it,” President Donald Trump said on Friday during a press conference with Japanese Prime Minister Shigeru Ishiba. U.S. Steel is “a very important company” and was once “the greatest company in the world”. Of potential foreign ownership of the Pittsburgh-based steelmaker, Trump said, “the concept, psychologically, not good."