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SUMMARY

The companies plan to develop onshore large-scale liquid hydrogen storage facilities in South Korea.

By Shardul Sharma

Nasdaq-listed industrial engineers Matrix Service Co. has signed a memorandum of understanding with energy company Kogas to develop hydrogen projects in South Korea, it said on August 8.

The MoU provides the framework for the development of new technology to support onshore large-scale liquid hydrogen storage to support South Korea’s plans to achieve carbon neutrality by 2050, Matrix said. The agreement also supports the development of solutions that will allow the transportation of greater volumes of hydrogen by vessels.

Kogas in a statement said that the collaboration will help the company enhance its competitiveness in developing core technologies in the storage and transportation of liquid hydrogen and accelerate the creation of a domestic hydrogen industry ecosystem.

The companies plan to conduct a joint study on converting Kogas’ Pyeongtaek LNG terminal to a hydrogen facility. Kogas is South Korea’s largest LNG importer and operates four import and regasification terminals: Incheon, Pyeongtaek, Tongyeong and Samcheok. 

Kogas last year said it plans to supply 830,000 metric tons/year of hydrogen by 2030.