South Korean LNG importing giant Kogas has signed a memorandum of understanding with US contractor Matrix Service to work on liquefied hydrogen storage technology.
Kogas, the operator of four large LNG import terminals and one small-scale facility, aims to utilize its infrastructure and knowledge gained in the LNG industry over the years to develop a hydrogen production and supply chain.
The firm said in a statement on Monday it aims to work with Matrix on new technologies and infrastructure for hydrogen shipping, storage, and distribution.
This includes the development of large onshore liquefied hydrogen storage tanks as well as hydrogen receiving facilities.
According to Kogas, the two firms plan to conduct a joint study on converting the Pyeongtaek LNG terminal to a hydrogen facility.
Matrix said in a separate statement that with this deal it would support South Korea’s development of a hydrogen economy as it transforms itself from a natural gas supplier to a hydrogen platform operator.
Moreover, the memorandum provides the framework for the development of new technology to support onshore large-scale liquefied hydrogen storage to support South Korea’s plans to achieve carbon neutrality by 2050.
The agreement also supports development of solutions that would allow transportation of greater volumes of hydrogen by ship, it said.
“We are proactively pursuing the development of new technologies and infrastructure for hydrogen shipping, storage, and distribution to meet mid- and long-term demands, and look forward to working with Matrix Service Company in achieving this reality,” Hee-Bong Chae, CEO of Kogas said.