The Ulsan Port Corporation (UPA) and the Korea Petroleum Corporation (KNOC) signed a Feasibility Service Business Agreement on the 11th to build an ammonia and hydrogen terminal at Ulsan New Port.
The main scope of this service is Ammonia domestic demand analysis, Ammonia production and introduction, Domestic distribution method and strategic stockpiling plan.
“Hydrogen will increase in the future, ” said Chung Chang-kyu, Director of Operations at UPA. In view of ammonia demand and import plans, the port terminal for hydrogen imports is a key infrastructure for the carbon-neutral and hydrogen economy.”It will be a stepping stone to expand the ammonia terminal business into two stages and a foundation on which Ulsan Port can be established as a ‘green energy logistics leading hub port’that aims to be carbon neutral.”
Currently, Ulsan North New Port Phase 1 (50,000 DWT, 159,000 m2) has signed a business agreement with five companies (UPA, East-West Power, Lotte Fine Chemical, Hyundai Glovis, SK Gas) and is in the process of conducting a feasibility study to build a hydrogen/ammonia terminal. It is known that they are seeking ways to expand the project to the second stage of the North New Port (one berth for each 50,000 DWT and 20,000 DWT class, with a site of about 190,000 m2).
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