Gas supplier KOGAS plans transformation into hydrogen technology provider
17. February 2022The Korea Gas Corp. (KOGAS) plans to transform itself from a natural gas supplier into a hydrogen technology provider. The state-owned company made the announcement at a press conference on 27 September 2021 in Daegu, South Korea. According to the president of KOGAS, Chae Hee-bong, about 2.49 million US dollars profit will be generated in the new business field with hydrogen technology by 2030. KOGAS will be transformed from a simple natural gas supplier to a showcase company for hydrogen in South Korea, Hee-bong said at the event. KOGAS plans to produce around 830,000 tonnes of green hydrogen abroad and import it to South Korea by 2030. To this end, green hydrogen will be imported from Australia, Russia and Southeast Asia from 2025. In addition, the installation of 152 hydrogen fuel pumps is planned by 2030. Equipment and machinery needed for technical hydrogen processes and production requires KC certification, KCs certification or KGS certification for many parts in order to be imported to Korea and used in the Korean market.
An existing liquefied gas plant in Pyeongtaek, Gyeonggi Province, will be converted into the first climate-neutral hydrogen production plant in South Korea, according to the company. Furthermore, KOGAS is promoting the expansion of renewable energies through wind power plants on Jeju Island. KOGAS has decided to actively develop new business areas beyond the liquefied natural gas business. For example, the refrigeration business with liquefied gas cooling is to be expanded in the “Busan New Port” and in Vietnam. Recently, the Supervisory Board also decided to expand the refrigeration plants in the port “Incheon New Port”. In addition, the company wants to become more involved in new tenders for gas-fired power plants for electricity generation in Vietnam, the Dominican Republic, Malaysia and Indonesia.
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