AsiaOther Fuels

South Korea’s SK to splash $16.5 billion in hydrogen

By LNG Prime Staff
South Korea's SK to splash about $16.5 billion in hydrogen
Image: SK Group

South Korean conglomerate SK Group plans to spend 18.5 trillion won ($16.5 billion) in hydrogen projects over the next five years, including the construction of what it says is the world’s largest hydrogen plant.

The firm revealed the plans on Tuesday during a meeting of the Hydrogen Economy Committee which included officials from five firms including Hyundai Motor Group, Posco, and Kogas.

In total, South Korean firms aim to invest about 43 trillion won ($38.3 billion) in hydrogen projects by 2030.

As per plans by SK, it aims to invest, mostly via its unit SK E&S, in domestic hydrogen business infrastructure and tie in with global companies to become the world’s largest company in the hydrogen value chain, it said.

The firm plans to build a plant in Incheon by 2023, with a capacity to supply 30,000 tons of liquefied hydrogen per year.

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

Most Popular

LNG Terminals

TotalEnergies to transfer Papua LNG operatorship to ExxonMobil

French energy giant TotalEnergies said on Monday that Papua LNG has achieved "major" contractual and commercial milestones, marking "decisive" steps towards a final investment decision. These include completing the EPC tendering process and transferring Papua LNG operatorship to US energy giant ExxonMobil, operator of the PNG LNG project.
LNG Terminals

Gasunie, Vopak plan fifth Gate LNG jetty

Dutch partners Gasunie and Vopak plan to build a fifth liquefied natural gas (LNG) jetty at their Gate terminal in the port of Rotterdam.
Vessels

Arctic LNG 2 seeks $1 billion from Hanwha Ocean over terminated LNG carrier orders

Novatek-led Arctic LNG 2 is seeking approximately $1 billion in damages from South Korean shipbuilder Hanwha Ocean over terminated shipbuilding contracts for Arc7 ice-class LNG tankers.

More News Like This

Contracts and Tenders

Santos: GLNG to buy Meridian CSG project

Australian LNG player Santos and its GLNG joint venture partners have entered into binding agreements to purchase 100 percent of the Greater Meridian CSG project in Queensland for approximately $310 million.
LNG Terminals

Kogas reports slightly lower gas sales in July

South Korean LNG importer Kogas said its gas sales decreased by 1.1 percent in July compared to last year.
LNG Terminals

Kogas boosts gas sales in June

South Korean LNG importer Kogas said its gas sales increased by 9.3 percent in June compared to last year.
LNG Terminals

Kogas reports slightly lower gas sales in May

South Korean LNG importer Kogas said its gas sales decreased by 0.8 percent in May compared to last year.