The FINANCIAL — ExxonMobil on June 18 signed a memorandum of understanding with the Korea Institute of Energy Technology Evaluation and Planning and the Korea Gas Corporation (KOGAS) to hold discussions concerning natural gas technologies and new energy technologies.
The agreement will focus on the natural gas value chain, including cryogenic materials, hydrogen production and fuel cell utilization, energy efficiency technologies and technologies associated with robotics and automation, according to ExxonMobil.
The multi-year agreement was signed in the presence of Youngsam Kim, director general of investment policy at the Korea Ministry of Trade and Industry; Sara Ortwein, president of ExxonMobil Upstream Research Company; Richard Guerrant, vice president of ExxonMobil Gas and Power Marketing Company; and Graham Dodds, president of ExxonMobil in Korea.
Rob Franklin, president of ExxonMobil Gas and Power Marketing, said ExxonMobil is a world leader in LNG across the entire value chain.
“This memorandum of understanding establishes a framework that allows for information exchange on liquefied natural gas technology, research and development projects and best practices,” said Franklin. “It will enable professional exchanges that will help expand our joint capabilities.”
Sara Ortwein, president of ExxonMobil Upstream Research Company, said the technology development is vital to providing energy to help meet the world’s energy needs.
“Strong partnerships are key to developing and delivering integrated technology solutions,” Ortwein said. “We look forward to working with the Korea Institute of Energy Technology Evaluation and Planning and the Korea Gas Corporation to advance new research and development opportunities and energy technologies.”
Graham Dodds, president of ExxonMobil in Korea, noted that ExxonMobil has had a presence in Korea for more than 40 years, and through its ventures supplies about 30 percent of LNG demand, manufactures and markets Mobil-branded lubricants and markets ExxonMobil chemical products in the country.
“This agreement strengthens the links between ExxonMobil and Korea,” said Dodds.