KOGAS transforms into hydrogen platform business

Korea Gas Corp. is undergoing a paradigm shift from a fossil fuel resource developer to a hydrogen-based eco-friendly company by pushing forward its hydrogen as well as natural gas businesses.

Established in 1983 with a mission for safe and stable supply of natural gas, KOGAS owns 74 storage tanks with a total capacity of 11.56 million kiloliters at five production sites in Pyeongtaek, Incheon, Tongyeong, Samcheok and Jeju; 4,945 kilometers of natural gas pipelines nationwide; and 413 supply management centers.

In October 2019, the state-funded company began supplying natural gas to a power plant in Jeju for the first time.

As decomposing natural gas at high temperatures and high pressures to produce hydrogen is the most realistic way to secure hydrogen, KOGAS, with its knowhow in construction and operation of natural gas infrastructure for the past 38 years, is expected to play a key role in building a hydrogen economy.

KOGAS is promoting a variety of future businesses related to natural gas such as hydrogen, liquefied natural gas bunkering and cold chain cluster.

Starting with a 20 percent reduction in carbon dioxide emission by 2030 through production of green hydrogen, cold energy business, carbon capture and storage business, KOGAS targets net-zero CO2 emission by 2045.

To achieve its goals, KOGAS plans to invest heavily in building the infrastructure for its hydrogen and other new businesses.

The company plans to establish hydrogen utilities nationwide to supply 830,000 tons of hydrogen annually by 2030; and produce green hydrogen overseas to supply 200,000 tons of green hydrogen annually by 2030.

KOGAS also plans to set up 152 hydrogen charging stations including 90 liquefied hydrogen charging stations across the country by 2030.

The company said it will turn the Pyeongtaek site into Korea’s first carbon neutral hydrogen megastation platform that handles the production, introduction, supply and usage of hydrogen.

Natural gas from Pyeongtaek will be sent to a hydrogen extraction site to produce hydrogen, which will be economically liquefied using minus 160 degrees Celsius LNG cold energy to be supplied to means of transportation.

By Kim So-hyun(sophie@heraldcorp.com)