GS Caltex to enter carbon capture, utilization and storage sector

South Korea's oil refining and energy giant GS Caltex has teamed up with leading domestic companies in their respective fields to enter the carbon capture, utilization and storage (CCUS) sector.

The company on Tuesday said Korea East-West Power, Hyundai Glovis, Hanwha Solutions, Samsung Construction and Trading (C&T), Namhae Chemical, Linde Korea, GS Energy and GS Engineering and Construction (E&C) signed an agreement to form the CCUS consortium.

Under the deal, the eight companies will capture CO2 emissions from plants at Yeosu National Industrial Complex in Yeosu, South Jeolla Province, including GS Caltex's plant there, for use as raw materials for chemical conversion and mineral carbonation.

The remaining carbon dioxide will be sent to landfills at home and abroad for underground storage.

Under the carbon treatment method, CCUS technology is divided into carbon capture and storage (CCS) and carbon capture and utilization (CCU).

GS Caltex will take fully part in the development of the CCUS business covering CO2 collection, utilization and storage and supervise the supply of blue hydrogen.

Hyundai Glovis will handle sea shipping for the carbon dioxide, which will be used in CCS operations at a storage facility developed by GS Energy and Linde Korea.

The CCU side will be done by Hanwha Solutions, Hyundai Glovis, GS E&C, Samsung C&T and Namhae Chemical. Korea East-West Power will conduct carbon capture and supply blue hydrogen.

Lee Doo-hee, head of GS Caltex's production division, said, "This agreement paves the way for devising a plan to reduce CO2 emissions at Yeosu National Industrial Complex," adding, "We will keep finding CO2-cutting measures to achieve a carbon-neutral society."

Write to Ik-Hwan Kim at lovepen@hankyung.com