HD Hyundai is accelerating its efforts to become carbon neutral by participating in Korea’s largest CCS (Carbon Capture and Storage) project.HD Hyundai’s shipbuilding division, which was involved in the construction of offshore gas fields 20 years ago, will once again occupy a key role in repurposing the fields for new roles.
Recently, HD Hyundai Heavy Industries and Hyundai Engineering & Construction signed a contract for the preliminary basic design for a CO2 subsea underground storage platform. Under the contract, HD Hyundai Heavy Industries will be in charge of the design of the offshore platform and HD Korea Shipbuilding & Offshore Engineering (HD KSOE) will develop the CO2 injection system. This is the latest in a series of measures taken by HD Hyundai Heavy Industries for this new business.
The project is said to be part of the Donghae Gas Field Utilization CCS Project, for which HD Hyundai Heavy Industries built the production platform in 2004.The gas field, which is about 40 miles from Ulsan, went on production in 2004 and helped create South Korea’s energy-exporting business, and shut down at the end of 2021, after which it will reemerge as the country’s largest carbon dioxide storage site.
The Donghae Gas Field Utilization CCS Project is led by Korea National Oil Corporation (KNO) and Hyundai Engineering & Construction (HEC) as part of Korea’s decarbonization strategy. The initial goal is to capture and store 1.2 million tons of CO2 from industrial complexes within Korea.
HD KSOE and HD Hyundai Heavy Industries had collaborated with the Korean National Petroleum Corporation to develop an offshore CO2 injection platform. in 2021, the platform received basic design approvals from DNV and ABS. Recently, HD Hyundai Heavy Industries developed a model of an offshore platform for subsea underground storage of carbon dioxide with an annual capacity of 2 million tons of floating carbon dioxide, which received design approval from the American Bureau of Shipping. This is part of the company’s strategy to accelerate the development of new systems, capitalizing on its expertise in offshore construction.