Supply of 30,000 tons of liquid hydrogen, the world’s largest, based on by-product hydrogen by 2023
Additional production of 250,000 tons of clean hydrogen in the vicinity of Boryeong LNG Terminal by 2025
Utilizing business experience and capabilities Full-fledged promotion of hydrogen business in Asia, including China and Vietnam
Invested a total of 1.85 trillion won in building a value chain such as hydrogen production, distribution, and sales.
Job creation effect Creates 209,000 jobs… Expected to benefit from 3,410 trillion won in social and economic benefits
[에너지데일리 변국영 기자] SK will invest about 18 trillion won over the next five years to create a domestic hydrogen ecosystem in earnest.
SK announced plans to build a domestic hydrogen ecosystem with the above contents at the 3rd Hydrogen Economy Committee hosted by the Prime Minister held at SK Incheon Petrochemical on the 2nd and started the business in earnest.
SK aims to leap into the world’s No. 1 hydrogen company in the value chain of hydrogen production, distribution, and consumption through investment in domestic hydrogen business infrastructure and partnerships with global companies.
SK’s strategy to create a domestic hydrogen ecosystem is largely carried out in two stages. In the first phase, SK will supply 30,000 tons of liquefied hydrogen, the world’s largest by-product hydrogen, in connection with Incheon City’s’bio-by-product hydrogen production cluster construction project’ by 2023, and in the second phase, clean hydrogen from carbon dioxide removed by 2025. It is planning to achieve the world’s No. 1 eco-friendly hydrogen company by producing additional 250,000 tons in the vicinity of the Boryeong LNG Terminal.
30,000 tons of liquefied hydrogen produced in the first stage is the same as planting 12 million trees in the amount necessary for 75,000 hydrogen cars, Nexo, to go around the earth at the same time (about 46520km), improving air quality in the metropolitan area, etc. It is expected to contribute greatly to the environmental aspect.
In the second phase, when additional 250,000 tons are produced, SK plans to produce and supply a total of 280,000 tons of eco-friendly hydrogen annually in Korea, and use these business experiences and capabilities to fully promote hydrogen business in Asia such as China and Vietnam.
In the process of establishing a domestic hydrogen ecosystem, SK created jobs in the fields of construction, shipbuilding, and automobile manufacturing as well as fuel cells and hydrogen production, resulting in a total of 209,000 employment inducement effects and social and economic benefits of 34 trillion won, including the Incheon area. It is expected to generate 100 billion won.
SK E&S, SK Group’s hydrogen business promotion company, will invest about 500 billion won to build a liquefied hydrogen production base to achieve the 30,000 tons of liquefied hydrogen production system, which is the first step goal. SK E&S plans to purchase a site of about 13,000 pyeong in the SK Incheon Petrochemical Complex in Wonchang-dong, Seo-gu, Incheon, and to complete a hydrogen liquefaction plant with an annual capacity of 30,000 tons by 2023.
When this facility is completed, byproduct hydrogen supplied from SK Incheon Petrochemical is purified to high purity, processed into a liquid, and supplied to the metropolitan area.
The first phase project is also significant in that it is one of the pillars of the Incheon city hydrogen cluster construction project. The discovery of new hydrogen-related businesses, creation of high added value, inducement of new employment, and influx of population are expected to contribute greatly to the economy of the Incheon region. It is expected to become an important foundation for the expansion of hydrogen infrastructure at Incheon International Airport, Incheon Port, and industrial complexes.
In addition, SK E&S plans to invest about 5.3 trillion won by 2025 to complete the world’s largest clean hydrogen production base that produces eco-friendly hydrogen from natural gas (LNG), and to produce and supply clean hydrogen that removes 250,000 tons of carbon dioxide per year. It’s the goal. It is explained that SK E&S is the only plan to produce clean hydrogen, which is being promoted by SK E&S, to produce 250,000 tons of clean hydrogen per year in a single production base using carbon dioxide capture and treatment technology.
In addition to supplying liquefied hydrogen, SK plans to make active investments in establishing a distribution system for eco-friendly hydrogen.
SK plans to operate 100 hydrogen charging stations nationwide by 2025 to supply 80,000 tons of liquefied hydrogen per year and build a fuel cell power plant of about 400MW to supply 200,000 tons of hydrogen per year through a dedicated pipeline.
As part of this, SK is also discussing cooperation measures in various fields to revitalize the hydrogen economy, such as establishing a liquefied hydrogen charging station, expanding the introduction of hydrogen vehicles, and building a hydrogen experience center with the Seoul Metropolitan Government.
SK Chairman Tae-won Choi said, “Hydrogen is an eco-friendly energy suitable for the domestic environment due to its small area of land that is not affected by the climate. SK will take the lead in establishing the Korean hydrogen ecosystem and fulfill its corporate responsibility for realizing carbon neutrality in 2050. “
Meanwhile, as SK and Hyundai Motor Group’s major executives, which are reinforcing cooperation in the electric vehicle battery business, meet in one place, expectations for the hydrogen business partnership, which these two groups are spurring as future growth engine businesses, are also growing.
The executives of the two groups held a meeting before the Hydrogen Economic Committee on this day to discuss concrete cooperation plans, such as promoting cooperation in building hydrogen charging infrastructure and establishing the’Korean version of the Hydrogen Committee’, a CEO consultation for hydrogen business cooperation between domestic companies. After the meeting, the two companies signed a business agreement with Incheon Metropolitan City and Incheon Seo-gu Office to establish the foundation for Incheon Metropolitan City’s hydrogen business. The parties to the agreement, including SK, will actively cooperate to expand the hydrogen economy by discovering and supporting various business models related to hydrogen in the Incheon area.
An SK official said, “SK will support the achievement of the domestic hydrogen economy roadmap target by expanding private investment such as large-scale hydrogen infrastructure and securing global core technologies.” We will build a solid business structure based on cooperation with various partners.”
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