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Korea Gas Corp. to invest W10tr in natural gas, hydrogen

Korea Gas Corp. will invest 10 trillion won ($8.8 billion) by 2025 in pursuit of new growth engines.

The public natural gas company said it plans to invest 10 trillion won by 2025, with 6 trillion won set aside for local businesses, 3 trillion won for overseas projects and the remaining 1 trillion won for new business areas.

The plan will create 70,000 new jobs for domestic businesses and 20,000 jobs for infrastructure businesses overseas, the company’s officials said.

Korea Gas Corp. said it plans to invest 6 trillion won in new facilities to expand the storage capacity of liquefied natural gas and improve facility operation with new technologies.

“We aim to secure competitiveness in the adoption, production and distribution of natural gas in line with the government’s new energy policies,” said a spokesperson of Korea Gas Corp.

The company will spend 1 trillion won to create a hydrogen value chain. It plans to establish a hydrogen complex, including building 100 hydrogen refilling stations by 2022 in partnership with the private sector.

By Shin Ji-hye (