SEOUL, March 22 (Korea Bizwire) — Korea Line LNG Co., a midsized South Korean shipping company, and the state-run Korea Gas Corp. (KOGAS) have launched a liquefied natural gas (LNG) bunkering business in collaboration with Shell Plc, Europe’s biggest oil firm. The two companies announced on Monday that they had taken delivery of the LNG [...]
SEOUL, March. 11 (Korea Bizwire) — The ongoing wildfires in east coastal mountain areas have so far burned nearly 24,000 hectares of woodland since they started a week ago, becoming the country’s most devastating on record, a government agency said Friday. The blaze that started in the east coastal town of Uljin last Friday, about [...]
SEOUL, March. 11 (Korea Bizwire) — SK E&S Co., the energy unit of South Korean conglomerate SK Group, has taken its first step in a carbon capture and storage (CCS) project that aims to transform a gas field that is soon to terminate production into a carbon storage space. The company announced on Thursday that [...]
SEOUL, March 8 (Korea Bizwire) — SK Materials Co., an affiliate of South Korea’s SK Group, said Tuesday it has formed a joint venture with U.S. clean technology firm 8 Rivers Capital, LLC to deploy zero-emissions power projects in the Asia-Pacific region. The joint company will combine 8 Rivers’ technology with SK’s regional networks to [...]
SEOUL, Feb. 22 (Korea Bizwire) — POSCO Group, South Korea’s top steelmaking group, said Tuesday it plans to spend 750 billion won (US$627 million) in expanding LNG storage tanks in the country. Along with its energy affiliate POSCO Energy Co., POSCO will add three 200,000-kiloliter LNG storage tanks near the existing LNG storage complex in [...]
SEOUL, Feb. 18 (Korea Bizwire) — SK ecoplant Co., a major construction company, said Thursday it had succeeded in the demonstration of eco-friendly hydrogen production by using a solid oxide electrolyzer cell (SOEC) to separate hydrogen from water for the first time in South Korea. The company launched the trial production of eco-friendly hydrogen after [...]
SEOUL, Feb. 17 (Korea Bizwire) — LG Energy Solution Ltd. (LGES) said Thursday it has acquired a U.S.-based energy storage system (ESS) solutions provider as part of efforts to expand its portfolio into all-round energy management services LGES took over a 100 percent stake in NEC Energy Solutions Inc. from NEC Corp., its Japanese parent [...]
SEOUL, Feb. 17 (Korea Bizwire) — Hyundai Electric & Energy Systems Co., a unit of top shipbuilder Hyundai Heavy Industries Co., has teamed up with a foreign company to launch into the offshore wind power market. The company on Wednesday signed a memorandum of understanding with GE Renewable Energy, a division of U.S. industrial giant [...]
SEOUL, Feb. 8 (Korea Bizwire) — South Korean oil refiners’ key profitability measure has been rising sharply this year on a global economic recovery, boding well for their earnings, industry sources said Tuesday. The benchmark Singapore complex gross refining margin (GRM) stood at US$7.5 per barrel for the first week of this month, up sharply [...]
SEOUL, Jan. 27 (Korea Bizwire) — Three South Korean companies — Samsung Engineering Co., Lotte Chemical Corp. and POSCO — announced on Wednesday that they will jointly launch a clean hydrogen development business in Malaysia. On Monday, the companies signed a memorandum of understanding with Malaysia’s Sarawak Economic Development Corporation Energy to promote the Sarawak [...]