KUCHING, January 26, 2022 – SEDC Energy Sdn Bhd, a subsidiary of Sarawak Economic Development Corporation (SEDC), today inked a Memorandum of Understanding (MoU) with Samsung Engineering, one of the world’s leading engineering, procurement, construction and project management (EPC&PM) companies to develop a green hydrogen and ammonia project in Bintulu.
The other parties signing the MoU were Lotte Chemical and Posco.
The signing ceremony, which was held in a non-face-to-face virtual format, was attended by seniorexecutives from each company, including Park Cheonhong, head of Samsung Engineering'sSolution Business Division, Kim Yeon-seop, ESG Management head of Lotte Chemical, Jo Joo-ik, Posco's Hydrogen business manager, and SEDC chairman Tan Sri Abdul Aziz Husain.
The H2biscus Project is aimed to converting hydropower and natural gas to green hydrogen/methanol and blue hydrogen and for the conversion of hydrogen to ammonia, aiming to supply hydrogen and ammonia to Korea and Sarawak.
Based on the results of the prefeasibility study conducted in 2021, the project is expected to produce 7,000 ton/year of green hydrogen for Sarawak’s local use, 600,000 ton/year of blue ammonia, 630,000 ton/year of green ammonia and 460,000 ton/year of green methanol.
Samsung Engineering, Lotte Chemical, Posco and SEDC Energy will be taking an active role in developing the entire cycle of the project including direct investment, construction, transportation and utilization.
The feasibility study is planned to be verified by this month through an in-depth technology, legal, financial, tax, and market analysis.
After the Feasibility Study, Pre-FEED and FEED are completed, the EPC work will be implemented for the H2biscus Project.
Sungan Choi, president and CEO of Samsung Engineering, said: “The H2biscus project brings theopportunity to produce a wide range of eco-friendly products, such as green hydrogen, green and blue ammonia, green methanol and CCU.
The project will serve as an exemplary project of international standing for renewable energy trading and hydrogen transportation between Korea and Malaysia, establishing hydrogen-related standards for the two countries.”
SEDC Energy, said: “H2biscus Project will play a pivotal role into this New Energy sector and thescope and magnitude of the project, will place Sarawak as a player in the global market as well.
“The partnerships with Samsung Engineering, Posco and Lotte Chemical will make this a realitywhich we truly value and appreciate.
“We hope our economic relationship between Sarawak and the Korean government will continue to blossom and strengthen and be in synergy with the global net-zero carbon emissions goals.”
Samsung Engineering is also currently executing the Sarawak Petchem methanol plant project in Bintulu which is expected to produce 5,000 tons/day of methanol.
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