Clean energy hub in Ohio, Pennsylvania and West
Virginia would generate new jobs, stimulate economic growth, and
reduce carbon emissions
United States Steel Corporation (NYSE: X) (“U. S. Steel”)
Equinor US Holdings Inc (NYSE: EQNR) (“Equinor”), and Shell US Gas
& Power LLC (NYSE: SHEL) (“Shell”) have entered into a
non-exclusive Cooperation Agreement to advance a collaborative
clean energy hub in the Ohio, West Virginia, Pennsylvania region.
The hub would focus on decarbonization opportunities that feature
carbon capture utilization and storage (CCUS), as well as hydrogen
production and utilization. The development of this hub, and its
associated infrastructure, would generate new, sustainable jobs,
stimulate economic growth, and help achieve significant reductions
in carbon emissions.
The regional CCUS and hydrogen hub aligns with both the United
States’ and project partners’ ambitions to realize net-zero carbon
emissions by 2050. To support its development, Equinor and Shell
will jointly apply for US Department of Energy funding designated
for the creation of regional clean energy hubs. U. S. Steel is
evaluating the role it may play in the hub, including as a
potential funding participant, customer, supplier, or partner.
“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,” says Grete Tveit, SVP Equinor Low Carbon Solutions. “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.”
With an abundance of low carbon gas, a robust industrial sector,
and a skilled workforce, the tri-state region boasts the optimal
location for a potential hub. Equinor and Shell are uniquely
positioned to help develop a clean energy hub in the region with
each having several operational projects around the world. U. S.
Steel is a historic innovator and leader in the energy efficient
production of steel. And, it has a strategy focused on creating a
more sustainable future for all its stakeholders.
“We’re proud of the collaboration with Equinor and U. S. Steel,”
says Lee Stockwell, GM US Carbon Capture and Storage for Shell and
signee of the Cooperation Agreement. “Together, we’ll continue to
leverage our deep technical experience, existing networks, and seek
to buildout the partnership with our customers and other
partners.”
“U. S. 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,” says Richard L.
Fruehauf, U. S. 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.”
To realize the true potential of a working hub, private and
public engagement is critical. Equinor, Shell, and U. S. Steel will
be engaging the local industry, labor, educational institutions,
and communities, and others.
Forward-Looking Statements
This release contains information that may constitute
“forward-looking statements” within the meaning of Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. We intend the
forward-looking statements to be covered by the safe harbor
provisions for forward-looking statements in those sections.
Generally, we have identified such forward-looking statements by
using the words “believe,” “expect,” “intend,” “estimate,”
“anticipate,” “project,” “target,” “forecast,” “aim,” “should,”
“will,” "may" and similar expressions or by using future dates in
connection with any discussion of, among other things, trends,
events or developments that we expect or anticipate will occur in
the future, statements regarding our greenhouse gas emissions
reduction goals and statements regarding our future strategies.
However, the absence of these words or similar expressions does not
mean that a statement is not forward-looking. Forward-looking
statements are not historical facts, but instead represent only the
Company’s beliefs regarding future events, many of which, by their
nature, are inherently uncertain and outside of the Company’s
control. It is possible that the Company’s actual results may
differ, possibly materially, from the anticipated results indicated
in these forward-looking statements. Management believes that these
forward-looking statements are reasonable as of the time made.
However, caution should be taken not to place undue reliance on any
such forward-looking statements because such statements speak only
as of the date when made. Our Company undertakes no obligation to
publicly update or revise any forward-looking statements, whether
as a result of new information, future events or otherwise, except
as required by law. In addition, forward-looking statements are
subject to certain risks and uncertainties that could cause actual
results to differ materially from our Company's historical
experience and our present expectations or projections. These risks
and uncertainties include, but are not limited to, the risks and
uncertainties described on this webpage and in “Item 1A. Risk
Factors” in our Annual Report on Form 10-K and those described from
time to time in our reports filed with the Securities and Exchange
Commission.
About U. S. Steel
Founded in 1901, United States Steel Corporation is a leading
steel producer. With an unwavering focus on safety, the Company’s
customer-centric Best for All® strategy is advancing a more secure,
sustainable future for U. S. Steel and its stakeholders. With a
renewed emphasis on innovation, U. S. Steel serves the automotive,
construction, appliance, energy, containers, and packaging
industries with high value-added steel products such as U. S.
Steel’s proprietary XG3™ advanced high-strength steel. The Company
also maintains competitively advantaged iron ore production and has
an annual raw steelmaking capability of 22.4 million net tons. U.
S. Steel is headquartered in Pittsburgh, Pennsylvania, with
world-class operations across the United States and in Central
Europe. For more information, please visit www.ussteel.com.
About Equinor
Equinor is an international energy company committed to
long-term value creation in a low-carbon future. Our purpose is to
turn natural resources into energy for people and progress for
society. Equinor’s portfolio of projects encompasses oil and gas,
renewables and low-carbon solutions, with an ambition of becoming a
net-zero energy company by 2050. Headquartered in Stavanger
(Norway), Equinor is the leading operator on the Norwegian
continental shelf. We are present in around 30 countries
worldwide.
About Shell US Gas & Power LLC
Shell US Gas & Power LLC is an affiliate of Shell plc, a
global group of energy and petrochemical companies with operations
in more than 70 countries. In the U.S., Shell operates in 50 states
and employs more than 12,000 people working to help tackle the
challenges of the new energy future.
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version on businesswire.com: https://www.businesswire.com/news/home/20220815005694/en/
Arista Joyner Manager Financial Communications T – (412)
433-3994 E – aejoyner@uss.com
Kevin Lewis Vice President Investor Relations T – (412) 433-6935
E – klewis@uss.com
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