-Promote joint research and development using eco-friendly hydrogen and ammonia
-Production of blue hydrogen through LPG import… Realization of’zero carbon’
-Developed the world’s first LPG·CO2 combined carrier, ammonia carrier
Hyundai Heavy Industries Group is promoting the’hydrogen project’ in cooperation with Saudi Arabia’s Aramco.
Hyundai Heavy Industries Holdings, a holding company of Hyundai Heavy Industries Group, signed an MOU on hydrogen and ammonia with Saudi Aramco on the 3rd. The contract was signed by Kiseon Jung, Vice President of Hyundai Heavy Industries Holdings’ Management Support Division, and Ahmad A. Al-Sa’adi, Senior Vice President, Technical Services of Aramco, Saudi Arabia.
The two companies decided to use eco-friendly hydrogen, ammonia, etc. through the agreement on the day to concrete a cooperation model and to promote joint research and development.
In particular, Hyundai Oilbank plans to cooperate with Saudi Aramco on the realization of the’zero carbon’ process, and in the case of Korea Offshore & Shipbuilding, it plans to promote cooperation in the development of the world’s first LPG/CO2 combined use vessel.
Hyundai Oilbank plans to import LPG from Saudi Aramco to produce blue hydrogen through hydrogen production facilities, use it for desulfurization facilities, or sell it as fuel for vehicles and power generation.
In particular, by supplying carbon dioxide (CO2) generated in the process to Saudi Aramco, the’zero carbon’ process becomes possible. In addition, Hyundai Oilbank plans to establish a supply chain for the sale of hydrogen produced by constructing 300 hydrogen filling stations by 2040.
It is also promoting a business using ammonia, an eco-friendly fuel.
Hyundai Oilbank plans to receive blue ammonia from Saudi Aramco and use it as fuel for LNG boilers scheduled to be established by 2024. When ammonia is used as a power plant fuel, an eco-friendly process is possible in which carbon dioxide (CO2) is significantly reduced.
The two companies will also strengthen cooperation in the shipbuilding business. Korea Offshore & Shipbuilding is the first of the world’s shipbuilders to develop a ship that can simultaneously carry LPG and carbon dioxide (CO2) and ammonia transport and propulsion ships. In the future, when eco-friendly hydrogen and ammonia businesses begin in earnest, ship orders are expected.
“This agreement is the first step in cooperation between the two companies dreaming of a’hydrogen dream’,” said Kiseon Jeong, vice president of the management support department of Hyundai Heavy Industries Holdings. , We will become a leading eco-friendly energy group.”
“Through this MOU, Saudi Aramco and Hyundai Heavy Industries Group have built a strategic partnership to discover new and ambitious business opportunities in the field of blue hydrogen and blue ammonia, which are future energy fuels,” said Ahmad Al Saadi, Senior Vice President of Saudi Aramco’s Technical Services Division. “This cooperation is expected to help reduce greenhouse gas emissions through carbon capture.”
Reporter Kim Ji-eun
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