KOGAS gearing up to transform into a hydrogen platform operator, to supply 830,000 tons of hydrogen.
Korea Gas Corp. (KOGAS) is aspiring to transform itself from a natural gas supplier to a hydrogen platform operator. The state-run corporation disclosed its new vision in a ceremony in Daegu on Sept. 27.
KOGAS president Chae Hee-bong said the company will attain three trillion won in operating profit in 2030 based on its new hydrogen-related businesses.
Chae Hee-bong, KOGAS President said.
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Today is a day when KOGAs declares a complete transformation from a natural gas supplier to a representative hydrogen platform operator in Korea.
KOGAS aims to produce green hydrogen overseas to supply 830,000 tons of hydrogen to Korea annually by 2030. It plans to bring green hydrogen from Australia, Russia and Southeast Asia beginning from 2025. In addition, it plans to build 152 hydrogen charging stations by 2030.
It will convert the LNG undertaking base in Pyeongtaek, Gyeonggi Province, into the first “carbon-neutral hydrogen mega-station” in Korea. It will also promote green energy production using wind power energy on Jeju Island.
KOGAS has decided to actively promote new business models, veering away from its current LNG-oriented business structure.
Its cold chain business using LNG heating and cooling energy will be expanded to Busan New Port and Vietnam following a recent shareholder agreement for the cold chain business at Incheon New Port. In addition, it is doubling its efforts to take orders for gas to power projects (GTPs) from Vietnam, Dominican, Malaysia, and Indonesia.
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KOGAS Gearing up to Transform into a Hydrogen Platform Operator, September 28, 2021
