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Wednesday, 11 January 2023

South Korea will get a whole lot of hydrogen from MENA in coming years

The South Korean government is planning to import green hydrogen from the UAE by 2027, Business Korea reports. The announcement comes ahead of South Korean president Yoon Suk Yeol’s planned visit to the UAE next Saturday to attend the World Future Energy Summit, Wam reports.

How much hydrogen are we talking about? The country is looking to source some 200k tons of green hydrogen per year from the UAE to be supplied by Korean-headquartered firms Samsung C&T and Korea Electric Power Corporation, which will build a green hydrogen at the UAE’s KIZAD Industrial Area at a cost of USD 1 bn alongside Korea Western Power, and the UAE's Petrolyn Chemie, Reuters reported in June.

South Korea’s been on a MENA green hydrogen hunt: South Korea’s Kepco and four other firms headquartered in the country signed an agreement with Saudi Arabia’s Public Investment Fund (PIF) in November worth some USD 6.5 bn to build a hydrogen and ammonia plant. Saudi Arabia’s Saudi EXIM also signed in December an MoU to export green hydrogen and ammonia to the Korea Trade Ins. Corporation (K-Sure). Saudi Aramco and Sabic Agri-Nutrients shipped the world’s first commercial load containing 25k tons of blue ammonia to South Korea and it arrived to Korean shores late in December.

Plans are expanding: China State Construction Engineering Corp (CSEC) and Korea’s SK Ecoplant are reportedly eyeing Egypt as a potential hub for green hydrogen projects. SK Ecoplant will facilitate loans for the projects and provide CSEC with green hydrogen tech.

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