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KOGAS hydrogen-related businesses to reach $6.8bn in profit by 2030

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Korea Gas Corp. (Kogas), a state-owned company, plans to deliver 830,000 metric tons of hydrogen per year by 2030.

By 2030, the business aims to import hydrogen from Australia and Southeast Asia and install 152 hydrogen charging stations. It recently inked a memorandum of understanding with SsangYong Engineering and Construction to construct an LNG base in Pyeongtaek, Gyeonggi Province, leveraging its boil-off gas fuel cell business. This facility will be converted into Korea’s first “carbon-neutral hydrogen mega-station” by Kogas.

Kogas and Siemens Energy inked an agreement earlier this month to work closely across all aspects of the hydrogen industry in order to achieve green hydrogen production and usage in power generation. This comprises a demonstration project for large-scale domestic green hydrogen production and supply; hydrogen turbine power generation; cooperative research for overseas green hydrogen production and transportation strategies; and technical development to ensure hydrogen business competitiveness.

Based on its new hydrogen-related operations, the firm plans to generate an operating profit of 3 trillion won ($6.8 billion) in 2030.

Arnes Biogradlija
Creative Content Director at EnergyNews.Biz

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