Tag Archives: South Korea

South Korea aims to start commercializing ammonia-fueled power generation from 2030 in a bid to reduce its heavy reliance on coal and LNG in electricity production, the energy ministry said Nov. 17. Under the government initiative, state-run power monopoly of Korea Electric Power Corp., its electricity generating units, a state …

South Korea’s aggressive new climate target will require the country to significantly ramp up its renewable energy generation, particularly in the wind sector. President Moon Jae-in pledged to cut the nation’s greenhouse gas emissions by 40% from 2018 levels by 2030 in his speech at the annual U.N. climate conference …

South Korean Data showed, on Saturday, that Iraqi oil exports to South Korea are 3.872 million barrels in last June. The Data stated that “The South Korea oil imports is 80.165 million barrels (2.67 barrels per day.)” The top four source countries of South Korean import oil are Saudi Arabia …

Amid the global transition to clean fuel, conventional oil and gas companies appear to have found a way to stay relevant: blue hydrogen. Hydrogen, typically produced by breaking methane inside liquefied natural gas into hydrogen and carbon, is labeled as blue, when all carbon emissions from this process are captured, …

Qatar Petroleum (QP) has finalized a 20-year sale and purchase agreement to supply liquefied natural gas (LNG) to Korea. The agreement with Korea Gas Corporation (KOGAS) covers the supply of 2 million tons-a-year of LNG, QP said in a filing. Shipments will start by January 2025, and will be delivered …

South Korea’s oceans ministry said Wednesday it plans to speed up efforts to cut the emissions of greenhouse gases from older ships in line with new environmental regulations from an international body. Last week the International Maritime Organization (IMO) announced its plans to adopt tougher environment rules on ships built …

The South Korean Government has announced plans to build a 6GW floating offshore wind farm off the coast of Ulsan by 2030. President Moon Jae-in said that the project would require a KRW36tn ($32.8bn) investment and would create 210,000 jobs in the region. The wind facility is planned for the …

South Korean shipbuilders are enjoying a booming liquefied petroleum gas (LPG) ship market, snapping up a significant number of new orders placed this year, industry data showed Sunday. South Korean builders have won 31 LPG carriers out of 44 ordered so far this year, accounting for about 70 percent of …

North Asia’s liquefied natural gas importers are making earlier-than-usual moves to stock up ahead of the winter, after they were caught flat-footed this year by a sudden cold blast that sent spot rates skyrocketing to a record. China’s Sinopec purchased at least 35 cargoes for delivery between June and February …

South Korea signed an agreement with the United Arab Emirates on Thursday to cooperate on the hydrogen economy, further expanding their partnership currently focused on nuclear energy, oil and gas. During the Korea-UAE Industry and Energy Cooperation Forum held online, South Korean Minister of Trade, Industry and Energy Sung Yun-mo …