Sempra, KOGAS inks MOU to support low-carbon energy transition

Sempra Infrastructure, a subsidiary of Sempra, which focuses on enabling the energy transition, and Korea Gas Corporation (KOGAS) has signed an MOU (memorandum of understanding) for considering ways to transition global energy to zero-carbon and lower-carbon fuels.

The MOU showcases the company’s mutual collaboration around project development and offtakes around several business areas, including carbon capture and sequestration, liquefied natural gas (LNG), and hydrogen infrastructure.

Justin Bird, Sempra Infrastructure CEO, said that the firm is excited to collaborate with KOGAS to advance the development of a series of energy-transition critical projects.

In light of the same values and strategies, there are various opportunities for KOGAS and Sempra infrastructure to collaborate across the lower-carbon value chain to deliver green and safe energy to its partners worldwide.

Chae Hee-bong, KOGAS President and CEO, while commenting on the MOU, said that Sempra Infrastructure and KOGAS possess a strong mutual commitment toward green energy and decarbonization and a joint commitment to taking a leadership role in the market of lower-carbon energy.

Hee-bong continued that KOGAS will be focusing on fortifying a new growth engine for the near future by creating new projects with Sempra Infrastructure.

As per credible sources, Sempra Infrastructure is currently developing multiple top-class projects for the energy transition in North America, along with the LNG export projects for serving consumers in both the Pacific and Atlantic Basins.

It is also offering new opportunities in carbon capture and sequestration, renewable energy, hydrogen and ammonia.

Moreover, the MOU referred to here is said to be non-binding. Therefore, the growth of these joint projects relies on several uncertainties and risks, some of which include securing all necessary permits, attaining definitive agreements, and accomplishing a final investment decision concerning each project.

Source Credit - https://www.prnewswire.com/news-releases/sempra-infrastructure-and-kogas-sign-mou-exploring-new-infrastructure-opportunities-for-energy-transition-301516431.html