GS Caltex partners with Korea Gas to advance into hydrogen market
GS Caltex is partnering with Korea Gas Corporation to enter the hydrogen market. GS Caltex and Korea Gas Corporation launched their liquid hydrogen production and supply business strategic alliance at the GS Tower in Seoul, South Korea on May 28th, in the presence of about 20 officials including GS Caltex President Huh Se-hong and Korea Gas Corporation President Chae Hee-bong. An MOU was signed.
Through this MOU, the two companies will collaborate on the entire value chain of the liquid hydrogen business, including 1) building a liquefied hydrogen plant, 2) building a liquefied hydrogen charging station, 3) building a hydrogen extraction facility, 4) Carbon Capture and Utilization (CCU) technology demonstration and commercialization.
The two companies have decided to build a 10,000-ton annual liquefied hydrogen plant on an idle site within the LNG receiving base of Korea Gas Corporation. 10,000 tons of liquid hydrogen is an amount that can be used for about 80,000 units per year of hydrogen passenger cars. Completion of the construction of the facility is expected in 2024.
Unlike other plants that use energy such as electricity and steam in the process of lowering the temperature to convert gaseous hydrogen into liquid hydrogen, this plant is the first in the world to produce LNG cold heat generated during the gasification process of an LNG receiving base. It has the advantage of being eco-friendly and more cost effective.
The two companies decided to work together not only in the production of liquid hydrogen, but also in the supply business. In line with the completion of the liquid hydrogen plant, it plans to build dozens of liquid hydrogen charging stations in the Seoul metropolitan area .
Compared to gaseous hydrogen filling stations, liquid hydrogen filling stations require one-third of the site area and can be easily installed even in urban areas, making it easier for customers to access. Even when transporting liquid hydrogen to a charging station, it has a small volume, so it can be transported 10 times more than gaseous hydrogen, thus reducing costs.
At the same time, the two companies wil review the construction of hydrogen extraction facilities and the demonstration and commercialization of CCU technology. A hydrogen extraction facility is a facility that produces gaseous hydrogen using natural gas as a raw material, and the produced gaseous hydrogen is used as a raw material for a liquefied hydrogen plant. In addition, through the commercialization of CCU technology, carbon dioxide generated during the hydrogen extraction process can be captured and converted into raw materials for chemical products and vehicle fuel.
“We will create synergy in the hydrogen business by combining GS Caltex’s gas station and charging station business know-how with Korea Gas Corporation’s LNG business know-how,” said the GS Caltex president.
Meanwhile, GS Caltex has also carried out the business of building and operating gaseous hydrogen charging stations prior to the production and supply of liquid hydrogen.
In May of last year, GS Caltex and Hyundai Motor Company completed a hydrogen charging station on the site of a gasoline station and LPG charging station in Gangdong-gu, Seoul.
