SK Gas, First LNG Ship Arrival at Ulsan Terminal: "Expanding LNG Business"

Planned Use for UGPS and KET Test Runs

SK Gas announced on the 22nd that the first LNG has been introduced to the 'Korea Energy Terminal (KET)' being constructed at Ulsan North Port in collaboration with the Korea National Oil Corporation.

On the 5th, the LNG carrier 'Grace Cosmos,' carrying approximately 65,000 tons of LNG, docked at KET Pier No. 2 and began unloading, successfully completing the cooldown process (gradual cooling of tanks and pipelines) without incident.

The Grace Cosmos ship docked at Korea Energy Terminal (KET).
[Photo by SK Gas]

The LNG introduced this time is planned to be used for UGPS (Ulsan GPS), SK Gas's power generation subsidiary, and KET's commissioning. UGPS is the world's first LNG·LPG dual power plant capable of using both LNG and LPG as fuel. Depending on market conditions, it can flexibly select the more cost-competitive gas between LNG and LPG as fuel.

The start of the LNG terminal project at KET is significant as it marks the first connection between KET, responsible for storage in SK Gas's LNG value chain, and UGPS, which handles demand.

Currently, three LNG tanks are being constructed at KET, which is responsible for LNG storage and supply, and SK Gas plans to equip this site with LNG storage tanks capable of holding approximately 7.2 million tons in the future. By directly supplying the LNG stored here to UGPS, located about 5 km away, SK Gas aims to secure business profitability.

SK Gas plans to enhance safety by gradually conducting commissioning of the two infrastructures' facilities and aims to flawlessly prepare for the commercial operation of UGPS and KET in the second half of this year.

Yoon Byung-seok, CEO of SK Gas, stated, "Based on KET, we will consolidate the energy business capabilities we have built so far to accelerate business expansion in the LNG sector and do our best to grow SK Gas into a major LNG player in Northeast Asia by 2030."

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