SK E&S to Develop Australian Gas Field Using Carbon Capture and Storage Method

[Asia Economy Reporter Hwang Yoon-joo] SK E&S recently decided to develop the Australian natural gas field it invested in using carbon capture and storage (CCS) technology. The company plans to strengthen cooperation with the Australian government in the green hydrogen sector going forward.

On the 20th, Chu Hyung-wook, President of SK E&S, announced at the SK Seorin Building that he agreed with Dan Tehan, Australian Minister for Trade, Tourism and Investment, to jointly develop the Barossa-Caldita gas field in Australia as an eco-friendly gas field based on CCS.

SK E&S currently imports approximately 1.15 million tons of liquefied natural gas (LNG) annually from Australia. In March, the company declared an additional investment of about 1.4 billion USD in the Barossa-Caldita gas field, which has been under development since 2012, to develop an eco-friendly gas field based on CCS. Through this, SK E&S plans to import 1.3 million tons annually to Korea for 20 years starting in 2025 and use it as clean hydrogen fuel.

President Chu stated, "The Australian gas field will be developed in an eco-friendly manner by capturing 100% of the carbon dioxide contained in the gas produced from underground reservoirs through CCS and storing it in nearby depleted gas fields." He added, "The LNG imported from the Barossa-Caldita gas field will be used as a raw material for blue hydrogen, a clean hydrogen, and is expected to become a milestone for Korea's hydrogen industry."

SK E&S and the Australian government also discussed cooperation plans in the green hydrogen sector. President Chu added, "Since there are limitations to the short-term expansion of domestic renewable energy, if the hydrogen transportation issue is resolved, it will be possible to import Australian green hydrogen in the future."

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