Gas Gong, Leading the Activation of LNG Cold Energy

[Asia Economy Reporter Haeyoung Kwon] Korea Gas Corporation is creating a new revenue model through its liquefied natural gas (LNG) cold energy business.

On the 10th, according to the Gas Corporation, it is promoting the establishment of a cold chain cluster in the Incheon New Port hinterland area using LNG cold energy in cooperation with Incheon Port Authority. The plan is to build a large-scale refrigerated warehouse right next to Incheon New Port to serve as a fresh logistics export hub.

LNG cold energy is the energy generated when LNG, imported for use as natural gas, vaporizes from minus 162 degrees Celsius to 0 degrees Celsius. Approximately 200 kcal of cold energy per 1 kg is produced during LNG vaporization, but until now, this energy has been discarded into the sea or air. The core of the LNG cold energy business is to effectively utilize this unused energy.

The Gas Corporation took its first step in commercializing the LNG cold energy business in 2019 by operating a refrigerated and frozen logistics center located in the Pyeongtaek Oseong Logistics Complex. By receiving LNG supply from the Pyeongtaek LNG terminal and operating refrigerated warehouses, it efficiently maintains food freshness through rapid freezing and low-temperature storage using ultra-low temperature LNG cold energy.

LNG cold energy can be used not only in frozen logistics but also in data center businesses and large-scale vaccine cold storage. Recently, due to the spread of COVID-19, ultra-low temperature cold chains utilizing LNG cold energy, capable of storing large quantities of vaccines in one place, have attracted attention.

A Gas Corporation official stated, "We plan to discover business opportunities through convergence and complex models related to LNG cold energy," adding, "We will continuously promote various businesses that can utilize LNG cold energy, such as Busan New Port, joint logistics for small and medium enterprises, and data centers, and do our best to develop cold energy logistics business models."

This content was produced with the assistance of AI translation services.