Korea Petroleum Corporation and Air Products signed a “MOU to promote Clean hydrogen/Clean Ammonia business” on the 29th, with officials including Kim Dong-sup, President of Korea Petroleum Corporation, Wilbur Mok, President of Air Products Asia, Kim Seung-rok, President of Air Products Korea, and Ahn Beom-hee, ESG Director of Korea Petroleum Corporation.
In accordance with the Agreement, Korea Petroleum Corporation and Air Products will jointly review cooperation for the construction of clean ammonia acquisition bases and infrastructure in Korea, and participation in the development and business of clean hydrogen/ammonia at home and abroad.
With more than 60 years of hydrogen production experience, Air Products is working on the world’s first commercial-grade green hydrogen production project in NEOM City, Saudi Arabia, and will produce 1.2 million tons of green ammonia a year and distribute it around the world from 2026. In addition, the Blue Hydrogen project under construction in Louisiana, USA, produces 650,000 tons of blue hydrogen a year from 2027, some of which is converted to blue ammonia and distributed around the world, leading to the transition to clean energy.
Korea Petroleum Corporation, which has been operating overseas resource development and liquefied petroleum gas(LPG) stockpiles for more than 40 years, will contribute to Korea’s new energy security by securing overseas production bases for future clean energy causes green/blue ammonia and building a strategic stockpile base for ammonia through accumulated technology and experience.
“The ultimate purpose of the hydrogen economy is to reduce carbon generation, and Air Products has solutions of blue hydrogen and green hydrogen that are key to realizing the hydrogen economy,” said Wilbur Mok, President of Air Products Asia. We hope that this cooperation between Air Products and Korea Petroleum Corporation will contribute to the realization of carbon neutrality around the world, not limited to Korea.”He said.
Kim Dong-sup, President of Korea Petroleum Corporation, said, “We expect that the cooperation between Korea Petroleum Corporation and Air Products, which are working to realize the global hydrogen economy, will maximize the synergy of the global clean hydrogen/ammonia business and further increase its status as a global leading player in each field.” He said.