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Korea Gas Corporation, Matrix to develop large liquid H2 tank and cargo hold

Korea Gas Corporation (KOGAS) and Matrix signed a business agreement for the development of a large liquid H2 tank and cargo hold. About 10 officials from both companies attended the event, including Hee-bong Chae, President of Gas Corporation and John Hewitt, President of Matrix.

This agreement is a follow-up to President Chae Hee-bong's meeting with Matrix management and experts in the field of liquid H2 during his visit to the U.S. to attend the H2 Council in June to discuss the status of liquid H2 storage technology and cooperation with Korea Gas Corporation.

The two companies decided to cooperate closely in various fields, such as enlargement of liquid H2 onshore storage tanks, development of liquid H2 transport ship technology and design and construction of domestic liquid H2 receiving bases.

With this agreement as an opportunity, KOGAS plans to enhance its competitiveness as a leading country in the H2 industry by developing core technologies in the storage and transportation of liquid H2 in the H2 value chain and spur the creation of a domestic H2 industry ecosystem by introducing liquid H2.

The wind of change is scheduled to begin in Pyeongtaek. The two companies plan to carry out the conceptual design of the world's first LNG receiving station based H2 receiving station in the form of a joint study. If successful, Korea's first LNG receiving base will be transformed into Korea's first H2 receiving base.

Hee-bong Chae, President of Gas Corporation said, “Liquid H2 storage and transportation is a key technology to achieve carbon net-zero and to preemptively respond to large-scale H2 demand in the mid- to long-term. We will provide a strong foothold for this.”

John Hewitt, president of Matrix said, “I am delighted to cooperate with Korea Gas Corporation for the realization of a large-scale H2 economy in Korea.