Recently, in Canberra, Australia, Prime Minister Pham Minh Chinh had a meeting with the leadership of the SK Group from South Korea. Photo: VGP
Accordingly, at the meeting, the National Director of SK in Australia introduced the Prime Minister to the carbon-neutral LNG value chain with cross-border projects being implemented in many countries (South Korea, Australia, Timor Leste).
Specifically, these projects use natural gas to produce green hydrogen, with the key point being to use depleted gas fields as permanent storage locations for CO2 emitted during the production process. SK leaders said that this project chain can generate clean energy as it sequesters 98% of the emitted gases.
Considering Vietnam as a second home, the SK Group hopes to apply this production model in Vietnam. SK leaders share that the ongoing project chain of SK requires the participation of 3 countries, but with the advantages of Vietnam, it can be fully implemented in Vietnam alone.
About Vietnam, the Prime Minister stated that hydrogen is currently one of Vietnam’s priority areas. In response to the Group’s proposal, the Prime Minister requested further information on the LNG extraction costs of the project chain in Australia.
At the same time, the Prime Minister also asked SK to work with the Ministry of Planning and Investment and relevant agencies to carry out the necessary work to facilitate project preparation in accordance with regulations. The agencies will implement the procedures assigned to them based on their functions, tasks, and powers.
The Prime Minister also welcomed SK’s long-term cooperation with the Vietnam National Oil and Gas Group (PVN) as a capable and experienced partner in this field, while promoting healthy competition with other partners.
SK is one of the largest conglomerates in South Korea and is currently one of the major investors in mergers and acquisitions (M&A) deals in Vietnam.
