South Korea’s SK reveals big LNG, hydrogen plans

SK E&S, a unit of South Korean conglomerate SK Group, has revealed ambitious plans for its LNG and hydrogen business by 2025.

SK E&S chief executive Choo Hyung-wook said during a media day on Wednesday the company aims to produce 280,000 tons of hydrogen, 7GW of renewables and 10 million tons of green LNG by 2025.

Also, the plans include increasing the value of the company five times from 7 trillion won now to 35 trillion won ($30.2 billion) in 2025.

In a push to become a “major global green energy company”, SK E&S would build a differentiated “green portfolio” in its four core business areas. These areas include hydrogen, renewables, energy solutions, and green LNG.

“World’s leading hydrogen company”

The South Korean firm is looking to become “the world’s leading hydrogen company”.

To achieve this goal, it plans to increase its annual hydrogen supply capacity to 280,000 tons. This includes 30,000 tons of liquefied hydrogen and 250,000 tons of blue hydrogen by 2025.

Its parent SK Group revealed these plans earlier this year. It aims to spend 18.5 trillion won in hydrogen projects over the next five years, including the construction of what it says is the world’s largest hydrogen plant.

SK Group said it plans to produce 250,000 tons of hydrogen annually at a plant near Boryeong LNG terminal by 2025.

Carbon-neutral LNG and CCS

For the LNG business, the company has developed ambitious plans to go greener.

The plans include Korea’s first supply of carbon-neutral LNG for about 1.3 million tons. The firm also said it plans to apply CCS technology to the entire value chain.

Another plan is to grow into a major global LNG provider that will supply 6 million tons and 10 million tons of LNG by 2023 and 2025, respectively, the firm said.

Most Popular

Venture Global withdraws Delta LNG application

US LNG exporter Venture Global LNG is withdrawing its FERC application for the proposed 24.4 mtpa Delta LNG export facility in Louisiana. Instead, Venture Global will focus on expanding its Plaquemines LNG export facility in Louisiana.

Cheniere aims to start construction on Sabine Pass LNG expansion in late 2026

US LNG exporting giant Cheniere aims to start construction on the proposed expansion project at its Sabine Pass LNG export facility in Louisiana in late 2026.

Delfin seeks new DOE extension, eyes FID on first FLNG in August

Delfin Midstream, the US developer of a floating LNG export project offshore Louisiana, is seeking an additional extension from the US Department of Energy. The company is looking to make a final investment decision on the first FLNG in August.

More News Like This

South Korea’s Komipo, partners launch tender for one spot LNG cargo

Korea Midland Power (Komipo), Korea Southern Power (Kospo), and a unit of SK released a tender inviting firms to submit bids for one spot LNG shipment for delivery in June.

South Korea’s SK Gas launches LNG, LPG power plant in Ulsan

Commercial operations of Ulsan GPS started on December 26, according to a statement by SK Gas, a unit of...

SK Gas, KNOC launch Korean LNG and oil terminal

Korea Energy Terminal (KET) is a joint venture of KNOC (53 percent) and SK Gas (47 percent) formed to...

SK Innovation, SK E&S launch new company after merger

South Korea's SK Innovation and SK E&S have officially completed their merger, launching a new entity on November 1. Following...