S-OIL (CEO Hussein Al-Qahtani) announced on the 12th that it plans to carry out a number of projects to revitalize the hydrogen economy, such as participating in a large-scale clean hydrogen project to create a hydrogen ecosystem.
S-OIL will cooperate with Saudi Aramco, its major shareholder, to establish an infrastructure for securing and introducing overseas clean ammonia production sources and hydrogen extraction, such as supplying competitive blue ammonia produced in Saudi Arabia to Korea.
S-OIL plans to supply clean hydrogen and ammonia mixed combustion fuel to Samsung C&T and domestic power companies that have recently signed a partnership agreement.
S-OIL announced its participation in the clean hydrogen project consortium at the government’s recently held ‘Hydrogen-Leading National Vision’ announcement. In this consortium, Samsung C&T and Korea Southern Power will participate.
S-OIL is expected to secure large-scale hydrogen demand on its own. It plans to convert the existing plant fuel to hydrogen fuel and inject clean hydrogen into the production process such as heavy oil cracking and desulfurization.
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An S-OIL official said, “We are upgrading our carbon management system with the goal of achieving net zero carbon emissions by 2050. plan and expand participation,” he said.
S-OIL will take a step forward in the hydrogen economy by participating in the clean hydrogen project consortium. At the beginning of this year, S-OIL established a strategic cooperative relationship to enter the hydrogen industry by acquiring a 20% stake in FCI, a next-generation fuel cell venture.
