Korea plans offshore CCS project
State-run Korea National Oil Corp (Knoc) will undertake a carbon capture and storage (CCS) demonstration project offshore Korea, it said on May 26.
The project aims to capture and transport carbon dioxide produced by industries to the offshore Donghae gas field by pipeline and then inject and store it in the depleted wells. The Donghae gas field is scheduled to end production in 2022.
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Knoc will work with other entities such as SK Innovation, Korea Shipbuilding & Marine Engineering, and Korea Institute of Geoscience and Mineral Resources for this project. It will also work with government research agencies to explore Korea’s continental shelf, including in the East Sea, to identify more locations for the underground storage of carbon dioxide.
Korea has a goal of collecting, utilising, and storing 10mn metric tons/year of carbon dioxide by 2030, Knoc said.