SEOUL, KOREA- POSCO Energy, a POSCO Group company, said on September 16 that it would begin a fuel-cell business based on the boil-off gas that occurs when processing liquefied natural gas, the first in the world. The company signed on the same day an agreement with Korea Gas Corp.'s Samcheok LNG Terminal to supply 300-kW fuel cells. The fuel cells generate electricity through electrochemical reaction between hydrogen and oxygen.
The fuel cells will use the boil-off gas generated in the LNG storage tanks or LNG carriers in Samcheok. The company expects that the same boil-off gas-based technology can be used in other LNG terminals located in Pyeongtaek, Incheon, and Tongyeong, as the technology can save a substantial amount of electricity used in the reliquefaction process.
Kim Jung-gon, a POSCO energy executive responsible for fuel cell business, said, "We expect there is a sufficient amount of boil-off gas capable of running 600-megawatt fuel cells. Once we complete the Samcheok project successfully, we hope to expand the business elsewhere in foreign markets as well."
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