SK Gas aims to build a hydrogen value chain complex in Ulsan by 2025, encompassing raw material sourcing, production, storage and distribution.

At the envisioned complex which will sit on a 140,000-square-meter plot of land, the company plans to build facilities for hydrogen extraction as well as liquid hydrogen storage and distribution.

SK Gas plans to utilize the company’s existing supply channels of liquefied natural gas and liquefied petroleum gas to extract hydrogen from. The company is the country’s major importer and distributor of LNG and LPG.

The Ulsan project is part of the company’s larger scheme to expand its hydrogen business.

Last month, SK Gas signed a contract with Lotte Chemical to launch a joint venture for the byproduct hydrogen business. The envisioned entity would engage in hydrogen fueling stations as well as fuel cell power plants.

Under a hydrogen business road map unveiled by SK Gas, the company will break ground on the world’s first LNG/LPG combined cycle power plant to be built in Ulsan next year. Between 2022-25, it aims to finish the construction of the hydrogen production complex there.

By 2030, SK will complete setting up 100 hydrogen stations across the country.

”SK Gas will expand its hydrogen business in the country based on the new industrial complex that will be newly built in Ulsan, while strengthening its cooperation with other firms in the hydrogen firm,” an official from SK said.

By Shim Woo-hyun (ws@heraldcorp.com)