Hanyang Signs MOU with US Industrial Gas Company for Yeosu Ammonia and Hydrogen Projects

Hanyang is accelerating the establishment of a clean energy business value chain by jointly developing ammonia and hydrogen projects in the Yeosu region of Jeonnam with Air Products, a leading U.S. industrial gas company.

Kim Seung-rok, CEO of Air Products Korea (left), and Kim Hyung-il, CEO (Vice Chairman) of Hanyang, are posing for a commemorative photo after signing a joint development agreement (MOU) to establish clean ammonia and hydrogen infrastructure in the Yeosu area on the 16th at Hanyang Tower, Songpa-gu, Seoul. / Photo by Hanyang

On the 16th, Hanyang announced that it signed a joint development agreement (MOU) to build clean ammonia and hydrogen infrastructure in the Yeosu area of Jeonnam (including Yeocheon backland sites) at Hanyang Tower in Songpa-gu, Seoul. The signing ceremony was attended by Kim Hyung-il, CEO (Vice Chairman) of Hanyang, and Kim Seung-rok, CEO of Air Products Korea, among others.

Through this MOU, both companies plan to collaborate on developing an ammonia terminal, supplying clean ammonia, and developing ammonia cracking (decomposition) facilities. Hanyang will provide sites with optimal locations as a gateway port situated at the center of Northeast Asia and will promote terminal development based on its accumulated plant construction and operational capabilities as a construction and energy company. Air Products, an industrial gas specialist with expertise in ammonia and hydrogen businesses, will supply clean ammonia in a timely manner based on its experience in advancing a blue ammonia production project in Louisiana, USA, which is nearing commercial operation and export.

Ammonia does not emit carbon dioxide during combustion and has a higher liquefaction point than hydrogen, making it relatively easier to transport and store. Consequently, it has recently gained attention as a clean fuel and hydrogen carrier.

Hanyang is progressively advancing the 'Eco Energy Hub' in Myodo, Yeosu, Jeonnam, which consists of a Northeast Asia liquefied natural gas (LNG) hub terminal, a combined heat and power plant, and hydrogen and ammonia terminals. In particular, this collaboration is expected to secure a clean ammonia supply chain and cracking technology, laying the foundation for the ammonia and hydrogen terminal of the Eco Energy Hub.

A Hanyang official stated, "The Yeosu National Industrial Complex and the southern coast area are densely concentrated with diverse demand, making them an optimal location for supplying clean ammonia and hydrogen." He added, "If we establish infrastructure to supply more than 1 million tons of ammonia annually for power generation and industrial use through this MOU, it will play a pivotal role in realizing regional carbon neutrality."

Meanwhile, Hanyang is also focusing on the renewable energy sector, including plans to build a 1GW-class data center in 'Solarisdo,' a public-private cooperative development enterprise city in Haenam, Jeonnam. Through diversification of its energy business portfolio, Hanyang aims to become a global integrated energy specialist capable of providing total solutions across all fields, including development, engineering, procurement, and construction (EPC), and operations.

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