Plans to Secure Technologies through M&As
Korea Gas Corp. (KOGAS) announced on Jan. 11 that it has conducted a reorganization to set itself up for the hydrogen business. Through the reorganization, KOGAS has launched a new hydrogen business headquarters to pave the way to the establishment of an entire hydrogen value chain.
To support this move, KOGAS came up with a blueprint. KOGAS will establish the M&A Department to actively secure core hydrogen and carbon-neutral technologies through mergers and acquisitions (M&As) at home and abroad. In addition, it will also set up an investment department to manage investment in green hydrogen production and hydrogen fusion charging stations. So, it will finally build an entire value chain from hydrogen production to supply.
KOGAS will also focus on energy infrastructure projects with know-how from liquefied natural gas (LNG)-based combined cycle power generation projects in order to tap into emerging energy markets of Southeast Asian countries such as Vietnam and Myanmar.
KOGAS has decided to set up the ASEAN Vietnam Office for the Gas to Power Project (GTP), an LNG production base and power plant export project. It is currently negotiating with various countries including Vietnam and Thailand. The GTP Project is a complex energy infrastructure construction project to build a new terminal for LNG imports on the southeastern coast of Vietnam and a thermal power plant to use LNG imported through the terminal. KOGAS formed a consortium with Korea Southern Power and Hanwha Energy for the project.
"This GTP Project is a complex energy project that operates an entire LNG value chain by combining gas introduction, terminal and pipeline construction and operation, and power plant operation and maintenance (O&M),” a KOGAS official said.