Kogas steps up amid transition to hydrogen economy
Since climate crisis is posing an imminent threat to humanity, hydrogen energy is earning global attention as a viable alternative to fossil fuels.
The local government launched the Korean Green New Deal project in a bid to accelerate the energy transition, incorporating hydrogen transition as one of the main pillars for the initiative.
Kogas will actively take part in the Korean Green New Deal by making large-scale investments, the company said.
Kogas plans to tap into the expertise it has accumulated over the last 37 years in order to establish a hydrogen value chain. As a frontrunner in the local gas industry, Kogas has a clear advantage thanks to its preexisting infrastructure and know-how in the natural gas business.
In April 2019, Kogas announced its hydrogen roadmap encompassing the whole hydrogen value chain from refinement to distribution.
The roadmap, which will be updated in 2021, includes building production bases in the short term and increasing green hydrogen supply in the long term.
To cut costs and ensure stable supply, Kogas plans to expand production capacity by 2030. Moreover, the company will gradually secure the technology needed to produce and commercialize green hydrogen.
Green hydrogen is hydrogen energy produced via eco-friendly measures such as water electrolysis technology.
The Ministry of Trade, Industry and Energy has named Kogas as the main distributor to look over the national hydrogen network. Therefore local hydrogen station operators are required to report hydrogen prices to Kogas, which will be disclosed online.
Establishing a production and supply chain is essential in order for the hydrogen economy to function seamlessly. To extend and facilitate hydrogen supply, Kogas launched Korea’s first Hydrogen Station in Gimhae, South Gyeongsang. Gimhae Hydrogen Station began operating last June.
Kogas is striving to expand the national hydrogen value chain in collaboration with both private and public partners, including Korea Expressway Corporation and GS Caltex, while developing a safety system.
“Kogas will execute its hydrogen roadmap to make Korea the frontrunner in the global race for the low-carbon eco-friendly energy transition,” an official from Kogas said.
BY SHIN HA-NEE [firstname.lastname@example.org]