S. Korean firms actively explore biz opportunities and partners in green fuel

[Source: Texas LNG]

South Korean companies are actively seeking business opportunities and partners in environmental-friendly energy area for new growth in emission-control environment.

Samsung Engineering Co., a plant construction unit of Samsung Group, announced on Thursday that it was awarded a Pre-Final Investment Decision (FID) engineering contract to construct a four million ton LNG export terminal in the Port of Brownsville, located in southern Texas.

The financial terms of the contract were not disclosed.

Samsung Engineering will partner with Technip Energies USA Inc., a leading engineering company that has delivered more than 20 percent of the world’s LNG capacity, for 11 months to build the facility.

The Texas LNG, strategically located close to the Gulf of Mexico, will include LNG liquefaction equipment and a utility plant.

As one of the lead project contractors, Samsung Engineering will update its existing Front End Engineering Design (FEED) and carry out Engineering, Procurement & Construction (EPC) after the FID is finalized.

[Source: SK E&S Co.]

SK E&S Co., an energy firm under SK Group, announced on the same day that it signed a Strategic Collaboration Agreement (SCA) for LNG and hydrogen gas businesses with Beijing Gas Group.

The agreement will help the company expand its influence over China’s growing natural gas and hydrogen gas industry in the future.

Beijing Gas Group is the largest natural gas company in the North China region. It currently operates a 29,900 km natural gas pipeline and supplies natural gas to around 7.13 million households.

The two companies will share their operation know-how for major facilities such as the LNG terminal in China and collaborate on LNG and natural gas sales.

Beijing Gas Group's LNG terminal in Tianjin, which is currently under construction, will be used with carbon capture, utilization, and storage (CCUS) technology to produce blue hydrogen while green hydrogen will be produced from new renewable energy projects.

SK E&S is reviewing plans to blend hydrogen into the Beijing Gas Group’s natural gas pipeline and to build hydrogen fuel cell power plants.

Shares of Samsung Engineering traded up 3 percent at 24,050 won ($18.97) on Thursday afternoon.

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