South Korean conglomerate SK Group will spearhead a project to build a port energy ecosystem for production, logistics, consumption, and utilisation of hydrogen.
SK has signed a memorandum of understanding with the country’s ministry of oceans and fisheries, which considers ports as the best place for the construction of a hydrogen complex station, converting port mobility and vessels to hydrogen fuel, and building a blue hydrogen production base. Blue hydrogen is produced using natural gas and capture and storage technology.
Energy company SK E&S plans to build the first hydrogen complex station in the Yeosu Gwangyang Port by 2023 to serve as a base for supplying liquefied hydrogen gas to ports and a hinterland complex.
The ministry said it will review the possibility of creating a hydrogen energy ecosystem for major ports nationwide, including Busan Port, Incheon Port, and Ulsan Port to supply more than 60% of South Korea’s total hydrogen consumption through hydrogen ports by 2040.
Earlier this year, SK Group announced plans to invest around $16.5bn over the next five years to establish a domestic hydrogen energy industry. Part of the investment will be directed to the construction of a liquefied hydrogen production facility with a capacity of 30,000 tons per year from 2023. In the second stage of its hydrogen roadmap, SK E&S will build a blue hydrogen plant by 2025 capable of producing 250,000 tons per year.