Gulf Oil and Gas accountACCOUNT

Air Liquide Expands its Partnership with KMCI in South Korea

Source: www.gulfoilandgas.com 1/25/2018, Location: Asia

Share |
Air Liquide recently signed a new long-term contract with Kumho Mitsui Chemical Inc (KMCI), a major chemical group in South Korea, according to which Air Liquide will increase its supply to this customer of both hydrogen and carbon monoxide at the Yeosu industrial complex. Under the terms of the new agreement, Air Liquide will invest around €100 million1 to build a new, state-of-the-art hydrogen production unit.

The new SMR (Steam Methane Reformer)2 , designed, manufactured, owned and operated by Air Liquide, will increase production capacity in Yeosu of both hydrogen and carbon monoxide by around 50%. The new unit, fully integrated with Air Liquide's existing hydrogen and carbon monoxide supply system, will support the expansion of KMCI's chemicals production at Yeosu.

Yeosu is the largest isocyanate production complex in South Korea and the nation’s second largest industrial park.

Isocyanate is employed in the production of polyurethane foams, rubbers, elastomers and resins which are used in many everyday applications in the sectors of construction, automobiles, home appliances, and other equipment.

Expected to start operations in 2020, the new SMR will be designed and built by Air Liquide’s Engineering and Construction teams using world-class technologies to offer energy efficiency as well as optimal safety and reliability. It enhances Air Liquide’s local production network and strengthens the Group’s leadership position in a key industrial area of South Korea.

François Abrial, member of the Air Liquide Group’s Executive Committee supervising Asia Pacific, said: “We are pleased to strengthen our long-term partnership with KMCI and to enhance our investment into the promising and dynamic Yeosu region. As this new contract illustrates, South Korea represents an attractive investment destination in Asia for Air Liquide due to its integrated industrial base and strong innovation capabilities. We look forward to continuing the sustainable expansion of our operations there, in step with the country’s overall economic development.”

Mergers and Acquisitions News in South Korea >>

Malaysia >>  11/11/2018 - Sapura Energy and OMV have signed a Share Subscription Agreement and a Shareholders’ Agreement to form a strategic partnership. Under the agreements, ...
United Kingdom >>  11/5/2018 - Serica Energy has signed a sale and purchase agreement ('SPA') to acquire further interests in the Bruce and Keith fields and associated infrastructur...

United Kingdom >>  11/5/2018 - Union Jack Oil has announced that, further to entering into a Heads of Agreement as announced on 3 October 2018, the Company has now signed a farm-in ...
Azerbaijan >>  10/31/2018 - Nobel Oil and Wood have entered into a joint venture (JV) agreement to provide engineering and operations support services to the oil and gas market i...

Norway >>  10/30/2018 - Magseis ASA (Magseis) and Fairfield Geotechnologies (Fairfield) entered into an agreement whereby Magseis will acquire the Seismic Technologies busine...
United States >>  10/30/2018 - Chesapeake Energy Corporation (CHK) and WildHorse Resource Development Corporation (WRD) jointly announced that Chesapeake has entered into a definiti...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


South Korea Oil & Gas 1 >>  2 | 3 |

More News

 

Oil & Gas Companies in South Korea >>


Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.