SK, Full-Scale Entry into the Hydrogen Market
Establishment of Dedicated Organization 'Hydrogen Business Promotion Team'
[Asia Economy Reporter Park Soyeon] SK Group is establishing a dedicated organization for the hydrogen business and is making a full-scale entry into the rapidly growing hydrogen industry as the next-generation eco-friendly energy source.
On the 1st, SK Inc. announced that it has established a dedicated hydrogen business organization called the 'Hydrogen Business Promotion Team,' consisting of about 20 experts from related companies such as energy-related companies SK Innovation and SK E&S.
SK Inc. plans to actively utilize the infrastructure owned by the group to supply competitive hydrogen. Centered on its subsidiary SK E&S, it will build liquefied hydrogen production facilities with an annual capacity of 30,000 tons starting in 2023, supplying liquefied hydrogen to the metropolitan area. To this end, it plans to receive by-product hydrogen from SK Innovation.
Through SK E&S, a mass production system for blue hydrogen (hydrogen with captured and stored carbon dioxide) will also be operated. SK E&S, which directly imports more than 3 million tons of liquefied natural gas (LNG) annually, will utilize the large volume of natural gas it secures to additionally produce 250,000 tons of blue hydrogen starting in 2025.
SK Group aims to establish a total production capacity of 280,000 tons by 2025 and plans to use SK Energy’s gas stations and truck rest areas as green energy service hubs to supply hydrogen for vehicles, while actively developing demand for power generation such as fuel cell power plants.
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Through this, it is expected that the group will create an additional net asset value (NAV) of around 30 trillion won by 2025. A representative from SK Inc. stated, "We will promote green hydrogen production projects using renewable energy such as solar and wind power to complete an eco-friendly hydrogen supply system that does not emit carbon dioxide."
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