SK gas trials LNG-LPG combined cycle power plant

[Courtesy of SK gas Ltd.]

SK gas Ltd. officially began an integrated trial for its liquefied natural gas (LNG)/liquefied petroleum gas (LPG) combined cycle power plant, with the LNG used for the trial operation to be supplied from the LNG terminal which the company invested in. This marks the expansion of SK gas’ portfolio, which has been primarily focused on LPG, to include LNG.

The company announced on Monday that its Ulsan Gas Power Solution (GPS) successfully fired up its gas turbine for the first time, marking the start of the integrated trial operation. Ulsan GPS, a subsidiary of SK gas, is the world‘s first dual-fuel power plant that can use both LNG and LPG as fuel, and commercial operation is scheduled to begin in the second half of 2024.

Ulsan GPS, in which SK gas invested 1.4 trillion won ($1 billion), broke ground in March 2022. It has a generating capacity of 1.2 gigawatts, comparable to that of a single nuclear power plant. The annual electricity production is enough to supply 2.8 million households for a year, based on an average household consumption of 250 kilowatt-hours per month.

The largest shareholder of SK gas is SK discovery Co. with a 72.2 percent share. SK discovery’s 40.72 percent stake is held by the company’s CEO and vice chairman Chey Chang-won, who also chairs the SK SUPEX Council.