GS Energy to import blue ammonia from Abu Dhabi's ADNOC for clean energy biz

Lee Chuk-bok and Choi Mira 입력 2021. 10. 19. 14:24
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GS Energy CEO Huh Yong-soo [Source: GS Energy]
South Korea’s GS Energy Corp. will import eco-friendly source blue ammonia from Abu Dhabi to accelerate efforts to establish hydrogen infrastructure.

GS Energy announced Monday that it signed a contract with Abu Dhabi National Oil Company (ADNOC) on Oct. 14 to import blue ammonia. Blue ammonia is a low-carbon ammonia produced through a carbon capture and storage process.

The company will supply the source to its affiliates and use it for research and development projects including power generation that mixes ammonia and liquefied natural gas (LNG) and cracking which produces hydrogen by decomposing ammonia.

The deal is part of the company’s environment, social and governance (ESG) management efforts. Its CEO Huh Yong-soo is leading the ESG efforts to achieve its four goals - expanding green power generation portfolio, leading the smart power solution market, establishing resource circulation ecosystem and reforming infrastructure for clean hydrogen production.

“By becoming the Korea’s first company that imports blue ammonia, we will lead the industry’s efforts to establish infrastructure for the country’s hydrogen economy vision and strengthen ESG management,” said Huh.

GS Energy has been bolstering efforts to strengthen green power generation.

It is building a 200-megawatt solar power farm in Dangjin, South Chungcheong Province, with an aim to begin commercial operation in December 2023. In order to tap into the global renewable market, it signed a business agreement with the world’s No.2 renewable energy company Ibedrola in June.

To achieve the goal of leading the smart power solution market, the company launched a joint venture in July with GNTEL which operates more than 8,000 EV chargers across the nation.

GS Energy is also developing a battery-as-a-service (BaaS) business model to create battery recycling ecosystem. It has teamed up with MinTech, a local battery diagnostic company ,and GS Mbiz, its subsidiary that runs car-repair business.

[ⓒ Maeil Business Newspaper & mk.co.kr, All rights reserved]

ⓒ 매일경제 & mk.co.kr, 무단전재 및 재배포 금지

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