South Korean refiner Hyundai Oilbank Co. will invest 400 billion won to build an eco-friendly liquid natural gas (LNG) and blue hydrogen-fueled power plant in Daesan with the capacity of generating 230 tons of steam and 290-megawatt of electricity per hour.
The company will set up power generation subsidiary Hyundai E&F in June to launch commercial operations in 2025 to supply energy like steam and electricity to Hyundai Oilbank’s subsidiaries, including Hyundai Chemical Co. and Hyundai Shell Base Oil Co.
The blue hydrogen produced by the company at the Daesan plant, which is made up of natural gas and produces less CO2, is expected to account for up to 30 percent of its fuel mix.
Hyundai Oilbank CEO Kang Dal-ho noted that LNG power plants offer greenhouse gas emissions reductions of up to 56 percent than existing thermal power plants.
Kang added that LNG power plants that use a fuel mixture with 30 percent blue hydrogen could additionally reduce greenhouse gas generation by about 11 percent.


Burkina Faso and Mali’s fabulous flora: new plant life record released
Volkswagen Launches €28,000 ID. Cross EV as Europe’s Electric Vehicle Demand Accelerates
Drug pollution in water is making salmon take more risks – new research
Parasites are ecological dark matter – and they need protecting
Volvo Cars Q2 Profit Falls as Automaker Bets on EX60 EV to Drive Recovery
As the Black Summer megafires neared, people rallied to save wildlife and domestic animals. But it came at a real cost
DeepSeek Eyes $74 Billion Valuation Ahead of Planned China IPO
Fertile land for growing vegetables is at risk — but a scientific discovery could turn the tide
Japan Core Inflation Seen Rising in June, Strengthening BOJ Rate Hike Outlook
Airbus Signs Cloud Deal With Scaleway to Power Secure AI and Defense Applications
Trump Criticizes ABC, NBC and CNN for Limiting Coverage of Election Speech
Rise of the Zombie Bugs takes readers on a jaw-dropping tour of the parasite world
Moonshot Launches Kimi K3, China's Largest Open-Source AI Model
South Korea Raises Interest Rates to 2.75% as Inflation and Weak Won Drive Tightening
Extreme heat, flooding, wildfires – Colorado’s formerly incarcerated people on the hazards they faced behind bars
Malaysia Q2 Economy Grows 5.8%, Beating Forecasts on Strong Tech Exports and Domestic Demand 



