Korea-Western Australia Discuss Strengthening Cooperation on Energy Supply Networks

Decided to Develop from 'Letter of Intent for Cooperation' to 'Business Agreement'

Energy supply chain cooperation with Western Australia, a treasure trove of critical minerals and possessing enormous potential for clean hydrogen and ammonia production based on abundant solar and wind resources, is set to be strengthened.

The Ministry of Trade, Industry and Energy announced that Deputy Minister Kang Kyung-sung held a meeting with Roger Cook, the new Premier of Western Australia, in Seoul on the afternoon of the 8th to discuss ways to enhance energy supply chain cooperation.

On this day, the two countries discussed cooperation measures in the energy sector including ▲carbon dioxide capture and storage technology (CCS) ▲clean hydrogen and ammonia ▲green steel ▲critical minerals ▲natural gas, as well as the signing of a Korea-Western Australia energy cooperation memorandum of understanding (MOU).

Korean companies such as SK E&S and GS Caltex plan to capture carbon dioxide generated domestically, transport it to Western Australia, and permanently store it in depleted gas fields. Deputy Minister Kang requested active support at the Western Australia level to ensure that procedures within the Australian Parliament and federal government, including ratification of the amendment to the London Protocol for cross-border carbon dioxide transfer, proceed swiftly.

Deputy Minister Kang also mentioned that Samsung C&T is promoting a green hydrogen production pilot project in the Northam area of Western Australia and requested prompt project development approval for the project.

As a follow-up to the letter of intent (LOI) for cooperation between the Ministry of Trade, Industry and Energy and Western Australia signed in January this year, both sides agreed to develop it into a memorandum of understanding (MOU) at the 32nd Korea-Australia Energy Cooperation Committee scheduled to be held in Sydney, Australia, at the end of October.

Kang Kyung-sung, 2nd Vice Minister of the Ministry of Trade, Industry and Energy. (File photo)
[Image source=Yonhap News]

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