Woodside Energy, Hyundai Glovis, Misui OSK Lines Other Partners
HD Korea Shipbuilding & Offshore Engineering (KSOE), a shipbuilding holding company of HD Hyundai, recently announced that it has signed a memorandum of understanding with Woodside Energy, Australia’s largest energy company; Hyundai Glovis; and Mitsui O.S.K. Lines (MOL), a Japanese global shipping company, to cooperate in the development of liquefied hydrogen transportation value chains.
Since 2022, HD KSOE has been working with Woodside Energy and Hyundai Glovis to jointly develop a maritime value chain solution in consideration of LNG import and export environments and ship operations.
The addition of MOL, which has decades of expertise in the field of liquefied natural gas transportation, is expected to further advance HD KSOE’s global hydrogen transportation business model.
Under the agreement, the four companies will develop safe, efficient and low-emission hydrogen marine transportation technologies by 2030.
Woodside Energy will develop liquefied hydrogen markets. The company is developing global energy supply chains, having signed a non-binding heads of agreement with the Keppel Data Centers in Singapore in 2023 to supply liquefied hydrogen.
Hyundai Glovis and MOL will study the technical feasibility of operating liquefied hydrogen carriers and conduct a research project necessary for carrier operation.
“Based on our advanced technology and expertise in the gas carrier field, we will take the lead in establishing liquefied hydrogen transportation value chains,” said Jang Kwang-pil, head of the Future Technology Center at HD KSOE. “Through this cooperation, we will not only develop technology but explore business opportunities.”