SEOUL, June 24 (Korea Bizwire) — Korea Shipbuilding & Offshore Engineering Co. said Thursday that it and its affiliate Hyundai Heavy Industries Co. have received approval in principle from Norwegian-German ship quality assurance society DNV and Britain’s Lloyd’s Register for their new liquefied natural gas (LNG) fuel supply system. The newly-developed system, dubbed Hi-eGAS (Hyundai [...]
SEOUL, May 10 (Korea Bizwire) — Hyundai Motor Co. is building a combined heat and power (CHP) plant fired by liquefied natural gas (LNG) at its mainstay plant in Ulsan, 414 km southeast of Seoul, to generate its own electricity. The carmaker recently submitted plans to Ulsan’s Buk District Office, which were posted as an [...]
SEOUL, April 22 (Korea Bizwire) — South Korea’s state-run gas importer said Friday it has signed a contract to import 1.58 million tons of U.S.-produced liquefied natural gas (LNG) from the British oil company BP Plc annually. Under the contract, KOGAS will import the LNG, beginning in 2025, for 18 years. The LNG, which will [...]
SEOUL, Feb. 20 (Korea Bizwire) — South Korea is thinking seriously about sharing its liquefied natural gas (LNG) inventories with Europe amid looming supply disruptions sparked by the Ukraine crisis, officials said Sunday. “The government is seriously contemplating supporting Europe should the situation aggravate in Ukraine and create difficulties in the supply of natural gas,” [...]
SEOUL, Dec. 24 (Korea Bizwire) — South Korean refiner Hyundai Oilbank Co. announced that it will invest a total of 400 billion won (US$337 million) to build an eco-friendly power plant fueled by both liquid natural gas (LNG) and blue hydrogen. Blue hydrogen is produced from natural gas and produces less CO2 The power plant [...]
BUSAN, Oct. 28 (Korea Bizwire) — A cryogenic logistics center using liquid natural gas (LNG) cold heat will be set up in the southern port city of Busan. EMP Belstar, a U.S.-based cold chain logistics centers operator, on Wednesday signed a business agreement with the Busan metropolitan government and the Busan-Jinhae Free Economic Zone Authority [...]
SEOUL, April 15 (Korea Bizwire) — SK Innovation Co. said Wednesday that it will replace the boiler fuel at its Ulsan refining complex, the nation’s first oil refinery, with eco-friendly liquefied natural gas (LNG) fuel starting from July. Since 2019, the refinery-and-battery unit of SK Group has invested a total of 69 billion won (US$61.8 [...]
SEOUL, March 30 (Korea Bizwire) — South Korean steelmaker POSCO announced Monday that it had recently purchased approximately 64,000 tons of carbon-neutral liquified natural gas (LNG). Carbon-neutral LNG emits zero carbon by canceling all carbon dioxide emitted throughout all phases of production and supply of natural gas with carbon credits earned through forestry or other [...]
SEOUL, March 30 (Korea Bizwire) — SK E&S Co., the natural gas provider under SK Group, said it will invest 1.6 trillion won (US$1.4 billion won) over the next five years to develop an Australian gas field for the stable supply of liquefied natural gas (LNG). SK E&S said it approved the investment plan to [...]
SEOUL, Jan. 22 (Korea Bizwire) – South Korean steelmaker POSCO announced on Thursday that the world’s largest liquid natural gas (LNG)-fueled bulk carrier has successfully completed its maiden voyage. POSCO’s eco-friendly bulk carrier HL Green arrived at the terminal of its steel mill in Gwangyang, 420 kilometers southwest of Seoul, after departing from Mokpo in [...]