Kogas, GS Caltex ink hydrogen pact

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.

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