SK Gas expands LNG and hydrogen business

SK Gas will complete the construction of an LNG storage facility by 2024 – the end goal being to transform into a hydrogen company.

South Korea’s leading liquefied petroleum gas (LPG) supplier is expanding its liquefied natural gas (LNG) and hydrogen businesses as it seeks future growth from the eco-friendly industries for carbon neutrality.

SK Gas plans to transform into an LNG company that imports, stores and supplies the gas starting from 2024 with an end goal to convert its business focus to the hydrogen business. The company intends to produce liquefied hydrogen through cold energy of LNG at low costs.

The unit of South Korea’s number two conglomerate, SK Group, is establishing, with Korea Gas Corp,  an energy terminal which costs 1.2 trillion ($853 million) in the coastal city of Ulsan, about 310 kilometres southeast of Seoul.

They are scheduled to complete the construction of the terminal, dubbed as the Korea Energy Terminal (KET), by 2024.

For more information visit eng.skgas.co.kr