South Korea’s SK E&S is joining forces with US tech firm Honeywell UOP to capture carbon from LNG-fueled power plants.
In that regard, the two firms recently signed a joint development agreement to build a carbon capture demonstration plant, according to a statement by the unit of South Korean conglomerate SK Group.
This is the first case in which the private sector will build its own dedicated facility to demonstrate carbon capture from natural gas power generation, SK E&S said.
Under the agreement, the two companies plan to launch a front-end engineering design (FEED) to build a carbon capture demonstration plant and discuss ways to commercialize the jointly developed carbon capture technology, it said.
SK E&S said it will provide one of its power plant sites for the demonstration facility, secure government permissions, and work on engineering, procurement, and construction, while Honeywell UOP will provide its advanced solvent carbon capture (ASCC) technology.
According to SK E&S, the ASCC technology is expected to significantly reduce carbon from the global power plant sector in the future.
The technology captures more than 95 percent of CO2 in exhausts from fossil fuels, it said.
The move is a part of the company’s plans to slash emissions at its power plants, while SK E&S also works to produce low-carbon LNG and develop CCS projects in Australia.
In 2021, SK E&S revealed ambitious plans for its LNG and hydrogen business by 2025.
The company aims to produce 280,000 tons of hydrogen, 7GW of renewables, and 10 million tons of low-carbon LNG by 2025.
It aims to grow into a major global LNG provider that would supply 6 million tons and 10 million tons of LNG by 2023 and 2025, respectively.