Hyundai and KNOC to develop ammonia FSRU

Hyundai Heavy Industries has begun to develop a floating storage re-gasification unit (FSRU) for ammonia in cooperation with Korea National Oil Corp (KNOC) and Lloyd’s Register.

South Korea is gearing up to ensure ammonia is a significant part of the nation’s energy mix within a decade.

Earlier this month, nine South Korean companies including HDC Hyundai Industrial Development joined forces to build a new industrial pier equipped with large ammonia storage tanks and liquid cargo ship berthing facilities on reclaimed land near an industrial park in Dangjin, about 80 km southwest of Seoul.

When completed in 2030, the facility will be able to handle 2m tons of ammonia per year.

Last month, Samsung C&T Corp, the construction and trading arm of South Korea’s Samsung Group, teamed with compatriot shipping firm KSS Line to develop a fleet of hydrogen and ammonia carriers.

KSS Line is the country’s only owner with current experience of shipping ammonia.

The two parties will work to source hydrogen and ammonia overseas and bring it back to South Korea.