South Korea’s leading liquefied petroleum gas (LPG) supplier SK Gas, leading non-ferrous metals company Korea Zinc, and Hanwha Impact, an investment firm focusing on eco-friendly energy, have signed a memorandum of understanding (MoU) with Ark Energy, an Australian subsidiary of Korea Zinc, forming the Han-Ho H2 consortium.
This has been developed to begin a supply chain to export 1m tonnes per year of green ammonia to South Korea from Australia by 2032. The Australian government is keen for the country to become a major producer and exporter of the energy.
South Korea is currently the third largest importer of ammonia in the world and its government has committed to green ammonia in the country’s coal and gas-fired power plants in order to reduce emissions.
‘Our partners and our parent company are major players in Korea’s hydrogen economy and have a forecast demand for more than 2m tonnes of green ammonia per annum from 2030,’ says Ark Energy CEO, Daniel Kim.
