South Korea

The two markets aim to collaborate on oil and hydrogen.

It will stay the same in 2023 due to new nuclear and coal-fired plant start-ups.

The partnership is aimed to decarbonise the operations of KEPCO.

Areas of focus will include the enhancement of clean energy and data exchange.

South Korea is Oman’s largest LNG importer.

The MoU targets to “raise competitiveness through mutual growth.”

The project will start operations in Q1 2024.

The MoU seeks to decarbonise POSCO Group’s power generation.

This includes increasing the nuclear energy ratio to 30% by 2030.

This is the third largest wind farm project in South Korea.

Discussions also covered development of hydrogen, battery and CCUS. 

Solar and offshore wind power may be the key, GlobalData said.

The two states signed ten memoranda of understanding. 

They discussed opportunities in the energy supply chain and hydrogen.

This is provided under the new Energy Policy Directions.

It includes the reconstruction of New Hanwil nuclear plant units 3 and 4.