Korea Gas to invest $4 billion in h6 May 2019 21:34
5 days ago.
Korea Gas Corporation (KOGAS), South Korea’s state-run natural gas supplier, plans to make a multi-billion dollar hydrogen production investment that will see it build facilities that produce hydrogen by 2030. Also a major global importer of LNG (Liquefied Natural Gas), KOGAS intends to spend 4.7 trillion won ($4 billion) to build the facilities.
By 2030 Korea Gas expects to supply 1.73 million tons of hydrogen every year.
Part of the company’s hydrogen production investment plans is to build 25 hydrogen-producing facilities and pipelines, which will total 700 kilometers for transporting the gas in South Korea.
By their 2030 goal, KOGAS anticipates a distribution volume of 1.73 million tons of this clean fuel per year and a national demand of 1.94 million tons annually. According to estimates by the utility company, this demand will increase to 5.25 million tons by 2040.
What’s more, KOGAS assumes that the price per kilogram will decrease from its current 6,500 to 7,500 won ($5 to $6) to 4,500 won ($3.80), due to a boost in output. Additionally, beyond the domestic use of hydrogen, KOGAS also has plans for extensive export
https://www.hydrogenfuelnews.com/korea-gas-announces-multi-million-dollar-hydrogen-production-investment/8537448/