ABS and Korean Industry Leaders Collaborate on Offshore Floating Green Hydrogen Platform

Business development

May 10, 2023, by Adnan Memija

The American Bureau of Shipping (ABS) has joined Korean industry leaders in the signing of a memorandum of understanding (MoU) to produce a feasibility study for a near-shore floating platform of green hydrogen production and liquefaction.

The feasibility study will be included in a report from the Jeolla Province to determine the viability of developing a green hydrogen production and liquification facility at a near-shore floating platform utilising offshore wind power.

The study is the latest ABS’ pioneering work to support green hydrogen production, which includes an approval in principle (AIP) for HD Hyundai Group’s offshore green hydrogen production platform.

Green hydrogen production does not require fossil fuels, but instead uses power from renewable energy sources such as offshore wind turbines to convert water into hydrogen and oxygen.

ABS joins the Korea Institue of Energy Technology (KENTECH), HD Korea Shipbuilding, and Offshore Engineering (HD KSOE), part of HD Hyundai Group; Linde Korea; and Linde PLC in the MoU.

The Korean Government is supporting commercial-scale production of green hydrogen, with the expectation of increasing self-efficiency.

“Through this joint research and development with Linde, HD KSOE, and ABS, we will do our best so that the ‘near-shore floating green hydrogen and liquefaction platform’ technology can be applied to the Shinan green hydrogen energy island project in Jeollanam-do”, said Jihyun Hwang, Managing Director of Fraunhofer Innovation Platform (FIP) – Hydrogen Energy at KENTECH.

Under its Renewable Energy 3020 Implementation Plan, South Korea plans to develop 12 GW of offshore wind projects by 2030.

In February 2021, the South Korean government announced a KRW 48.5 trillion (EUR 34.8 billion) project to develop an 8.2 GW wind complex offshore Sinan County, South Jeolla Province. The project is planned to be completed by 2030, when it would become the world’s largest single offshore development.

A few months after the giant offshore wind project was announced, the country’s president Moon Jae-in revealed the government would invest KRW 1.4 trillion (around EUR 1 billion) in the first phase of a project developing a 6 GW floating wind farm offshore Ulsan.