SK E&S is set to bolster its collaboration with Australia in the development of liquefied natural gas (LNG) resources and the application of carbon capture and storage (CCS) technology for the production of blue hydrogen.
On Feb. 2, a meeting was held at the SK Seorin Building in the Jongno district of Seoul between Choo Hyung-wook, president of SK E&S, and Madeleine King, the Australian Minister for Resources. They discussed the Barossa gas field project, which SK E&S is involved in, and cooperation on CCS projects between Korea and Australia.
SK E&S has been participating in the development of the Barossa gas field since 2012 and plans to apply commercially available CCS technology to produce low-carbon LNG. They aim to introduce approximately 1.3 million tons (t) annually to Korea for use in blue hydrogen production, among other applications.
Although the development of the gas field experienced some delays due to lawsuits from indigenous peoples, the Australian court’s recent decision to resume construction has accelerated the project’s progress. The industry anticipates that the production from the Barossa gas field, expected to start after 2025, will significantly contribute to the stabilization of LNG supply and the strengthening of energy security.
During the meeting on Feb. 2, President Choo expressed gratitude for the Australian government’s efforts to improve the permitting system during the resource development process in Australia and requested active support and interest from the Australian government.
In response, Minister Madeleine King stated, “The Australian government is working on reforming offshore gas regulations to provide greater certainty to producers and communities.”
In November of the previous year, Australia passed a bill to ratify the amendment to the London Protocol, enabling the international transfer of CO2. This move by Australia, which possesses the world’s largest capacity for CO2 storage, allows the import and export of CO2. Consequently, countries like ours, which capture CO2 but lack storage space, now have the opportunity to actively pursue CCS projects.