LOI signed to assess large-scale liquid hydrogen trade between New Zealand and South Korea





LOI signed to assess large-scale liquid hydrogen trade between New Zealand and South Korea


New Zealand’s Minister of Trade and Export Growth Hon David Parker welcomed the signing of a Letter of Intent by Dr Chang Daejun, head of the South Korean SEA LH2 Consortium, to evaluate large-scale liquid hydrogen trade between the two countries on 25 November at the New Zealand Ambassador’s Residence in Seoul. Minister of Energy and Resources Hon Dr Megan Woods signed the Letter of Intent last week on behalf of the New Zealand Government. The New Zealand consortium consists of Contact Energy, K One W One, Powerco, New Zealand Refining Company and the New Zealand Government while the Korean consortium is represented by LATTICE Technology includes KOGAS Tech, KOMAC, KOMIPI, KIMM, Pyeongtaek City and KAIST. Present at today’s ceremony were New Zealand and South Korean hydrogen sector representatives and government officials, including New Zealand Ambassador Philip Turner, New Zealand Hydrogen Association CEO Dr Linda Wright, H2Korea Chairman Moon Jae-do and Representative Lee Wonwook.


During the next several months the two consortia will assess the feasibility and core technology for the liquid hydrogen supply chain where clean hydrogen is produced and liquefied by renewable energy in New Zealand, transported over the oceans, and imported into South Korea for distribution to consumers. Once the evaluation of the technical and economic feasibility has been completed, it is hoped that the initiative will lead to a more detailed project involving the concept design of key facilities and rigorous economic analysis.


In response to climate change mitigation and increased renewable energy generation, the hydrogen economy is being pursued diligently all over the world. However, securing CO2-free clean hydrogen remains a formidable challenge. If this project is conducted successfully, it will resolve this challenge by enabling the trading of clean hydrogen from renewable-rich countries to hydrogen-demanding countries in a mutually benefiting way. As a consequence, New Zealand expects to take the leading position in clean hydrogen production and export while South Korea, with its global competence in the LNG sector, aims to develop its technical strength in liquid hydrogen shipping and terminals.




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