South Korean LNG importing giant Kogas has teamed up with compatriot refiner GS Caltex to produce and supply liquid hydrogen in the country.
In that regard, the duo have signed a memorandum of understanding (MOU) to work on the hydrogen business, according to a Kogas statement.
Under the memorandum, the two firms aim to build a liquid hydrogen production facility at a Kogas LNG import terminal.
In addition, the facility would utilise LNG cold energy to produce liquid hydrogen, Kogas said.
The facility will have a capacity of 10,000 tons of liquid hydrogen per year and should go online in 2024.
Moreover, it would supply a network of hydrogen stations for vehicles the duo plans to build in Seoul and the region, Kogas said.
South Korea is one of the leading countries to develop a hydrogen-based economy.
Its hydrogen economy roadmap includes a goal of rolling out at least 1,200 hydrogen fueling stations by 2040.
Worth mentioning here, South Korean conglomerate SK Group recently said it plans to spend 18.5 trillion won ($16.6 billion) in hydrogen projects over the next five years.