LOTTE Chemical and Air Liquide Korea expands cooperation in ammonia decomposition and liquefied hydrogen in Yeosu.
LOTTE Chemical and Air Liquide Korea will expand its domestic hydrogen business. Through this, synergy effects in various areas of the hydrogen economy such as reduced carbon emissions, expanded hydrogen distribution channels, etc. are expected.
LOTTE Chemical and Air Liquide Korea entered an MOU for expanding their hydrogen business partnership at the Jamsil LOTTE World Tower in the afternoon of the 7th. At this event were present LOTTE Chemical Hydrogen Business Group CEO Hwang Jin Koo (and Basic Chemicals CEO), Air Liquide Korea CEO Nicolas Foirien, etc.
Through this agreement, the two companies will utilize their strengths to cooperate in the ammonia decomposition, liquefied hydrogen business, and hydrogen shipping business in Yeosu.
First, using the technologies and knowhow of the two companies, they will cooperate in cracking business of clean ammonia imported from abroad. Hydrogen produced through this will be used for power generation and mobility. In addition, plans are to expand the current gaseous hydrogen business to include liquefied hydrogen through the joint venture LOTTE-Air Liquide Ener’Hy and expand development of the mobility hydrogen market nationwide.
LOTTE Chemical established ‘LOTTE-Air Liquide Ener’Hy’ as a joint venture for expanding the domestic mobility hydrogen supply chain with Air Liquide Korea in December of last year. As the first project to lead hydrogen energy conversion in the domestic energy market, a large-scale high-pressure hydrogen shipping center that will use the by-product hydrogen of LOTTE Chemical is being built at the site in the LOTTE Chemical Daesan Plant.
Hwang Jin Koo, LOTTE Chemical Hydrogen Business Group CEO stated:
Expanding cooperation between the two companies that possess various strengths is expected to promote the hydrogen/ammonia economy and contribueto carbon neutrality.
And added, “LOTTE Chemical will maximize its core capacities in production, distribution, utilization, technological development, etc. possessed by the company for the successful landing of the hydrogen ecosystem, and further strengthen its global network.”
Nicolas Foirien, Air Liquide Korea CEO commented:
The expanded cooperation between Air Liquide Korea and LOTTE Chemical represents stronger partnership and it will contribute to further developing the hydrogen economy, which is a key element for energy conversion.
“When utilizing the strengths and expertise of the two companies, it will be possible to develop a sustainable hydrogen supply chain in the mobility and industrial application sectors.”
LOTTE Chemical is pursuing the hydrogen energy business for supplying global clean energy and for carbon-reduced growth. It plans to promote implementation of clean hydrogen/ammonia abroad through various investments and partnerships in preparationfo increased domestic demand, and contribute in the building of a green circulating ecosystem focusing on low carbon growth and hydrogen based on core capacities such as large-scale customers, massive supply chain, and eco-friendly technologies.
Air Liquide is a global leader in the industrial gas sector and it built up expertise unique to Air Liquide throughout the hydrogen supply chain from production, storage to distribution of hydrogen energy over the past 60 years. Based on this, it is contributing to the broad use of hydrogen as a clean energy source. As of current, it designed and constructed over 200 hydrogen charging stations around the world.
Highlights:
On the afternoon of the 7th, entered MOU for expanding hydrogen business partnership for carbon neutral growth
Following the Daesan hydrogen shipping center project through LOTTE-Air Liquide Ener’Hy, which was established in December of last year, LOTTE Chemical and Air Liquide Korea expands collaboration o amonia decomposition, liquefied hydrogen, and hydrogen shipping in Yeosu
LOTTE Chemical Hydrogen Business Group CEO Hwang Jin Koo, “Expanding cooperation between the two companies that possess various strengths is expected to promote the hydrogen/ammonia economy and contribute to carbon neutrality”… “LOTTE Chemical will maximize its core capacities in production, distribution, utilization, technological development, etc. possessed by the company for the successful landing of the hydrogen ecosystem, and further strengthen its global network”
Air Liquide Korea CEO Nicolas Foirien, “The expanded cooperation between Air Liquide Korea and LOTTE Chemical represents stronger partnership and it will contribute to further developing the hydrogen economy, which is a key element for energy conversion”… “When utilizing the strengths and expertise of the two companies, it will be possible to develop a sustainable hydrogen supply chain in the mobility and industrial application sector”
READ the latest news shaping the hydrogen market at Hydrogen Central
LOTTE Chemical and Air Liquide Korea Expands Cooperation in Ammonia Decomposition and Liquefied Hydrogen in Yeosu, August 6, 2023
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