- United States Steel Corp (NYSE:X), Equinor ASA (NYSE:EQNR), and Shell PLC's (NYSE:SHEL) Shell US Gas & Power LLC 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) and hydrogen production and utilization.
- The hub would generate new jobs, stimulate economic growth, and reduce carbon emissions.
- The regional CCUS and hydrogen hub aligns with the U.S. and project partners' ambitions to realize net-zero carbon emissions by 2050.
- Equinor and Shell will jointly apply for U.S. Department of Energy funding designated for creating regional clean energy hubs.
- U. S. Steel is evaluating its role in the hub, including as a potential funding participant, customer, supplier, or partner.
- The parties will engage the local industry, labor, educational institutions, communities, and others, to realize the true potential of a working hub.
- Price Action: X shares are trading higher by 2.21% at $24.95, EQNR shares are trading higher by 0.71% at $37.40, and SHEL lower by 0.98% at $52.52 on the last check Tuesday.
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