SEOUL, July 4 (Korea Bizwire) — SK E&S Co., a South Korean natural gas provider, is planning to open an office in London to push for an expansion in Europe, the world’s largest economic bloc, where the energy market is being reshaped amid the ongoing Russia-Ukraine conflict, the company’s head said Monday. “In the past, [...]
SEOUL, July 4 (Korea Bizwire) — South Korean top carmaker Hyundai Motor Co. has officially scrapped a plan to build a liquefied natural gas (LNG)-powered thermal power plant that it had pursued as part of a carbon neutral strategy. The company said it had mulled over constructing an LNG power plant to reduce carbon emissions [...]
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 [...]