SK Innovation E&S
Business
LNG Value Chain
We will expand the LNG value chain globally to strengthen our competitiveness. In addition, by leveraging CCS(Carbon Capture and Storage) technology, we will transition toward low-carbon LNG and blue hydrogen businesses.
SK Innovation E&S has integrated a complete LNG value chain, spanning from gas field development to natural gas power generation, and has positioned itself as the largest private LNG business operator in Korea.
Upstream
Gas Field
(Natural Gas Production)
- Barossa gas field in Australia
- Woodford shale gas field in the U.S.
Midstream
Liquefaction Plant
(LNG Production/Expert)
- Darwin LNG Plant in Australia
- Freeport LNG Plant in the U.S.
LNG Vessel
(Marine transport)
- Operating a fleet of four ships
LNG Receiving Terminal
(LNG import, storage, regasification and distribution)
- Boryeong LNG Terminal in Korea
- Ganyu LNG Terminal in China(‘27~)
Downstream
Generation/CHP Generation
- Gwangyang Natural Gas Power Plant
- Paju Natural Gas Power Plant
- Hanam CHP Plant
- Wirye CHP Plant
- Yeoju Natural Gas Power Plant
UPSTREAM
Upstream is a field of exploration, development, and production of natural gas. SK Innovation E&S is conducting global projects around the world.
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Barossa gas field in Australia Barossa project in Australia
Having secured a stake in the Barossa gas field in Australia and jointly promoted the project with Santos, we are planning to import approximately 1.3 million tons of natural gas annually to Korea.
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Woodford shale gas field in the U.S. Woodford project in the U.S.
In 2014, we secured a stake in Continental Resources's Oklahoma Woodford gas field, which produces about 1,100,000 tons of natural gas annually through joint development.
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Map of Tangguh Project in Indonesia Tangguh Project in Indonesia
SK Innovation E&S has introduced 500,000 to 600,000 tons of natural gas every year through the Tangguh gas field in Indonesia since 2004.
MIDSTREAM
Midstream is an intermediate stage of the LNG value chain that liquefies, transports, stores, regasifies, and distributes the natural gas which is secured upstream. SK Innovation E&S has established the entire midstream area by securing a stake in the Darwin LNG plant in Australia, signing a use agreement for the Freeport LNG plant in the U.S., acquiring LNG carriers, and obtaining operating rights for LNG terminals.
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Darwin LNG Plant in Australia Securing a stake in the Darwin LNG plant in Australia
Natural gas produced from the Barossa gas field will be liquefied at the Darwin LNG plant in Australia and then imported to Korea.
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Freeport LNG Plant in the U.S. Signing a use agreement for the Freeport LNG plant in the U.S.
SK Innovation E&S signed an agreement on the use of natural gas liquefaction plant with an annual capacity of 2.2 million tons with Freeport LNG, an American firm. It has imported American shale gas since 2020.
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SK Prism Agility LNG Carrier Secured LNG carrier
To transport liquefied gas, SK Innovation E&S has been Korea's first private operator of a fleet only for the transportation since 2019.
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Boryeong LNG Terminal Obtaining operating rights for LNG terminals.
We hold the operating rights for the Boryeong LNG terminal, with an annual capacity of 3.5 million tons. It is a facility that imports LNG secured from abroad into Korea, then unloads, stores, mechanizes, and transmits them, and it is a key infrastructure of LNG midstream in Korea.
In addition, we have secured partial facility usage rights for the Ganyu LNG terminal in Jiangsu Province, China, which is scheduled for completion in 2027, and plan to continue expanding our LNG business in China.
DOWNSTREAM
Downstream is a business area that supplies or sells various energy sources so that customers can safely and conveniently use them.
As the largest private power generation company in Korea, SK Innovation E&S produces and sells electricity and heat through natural gas and combined heat and power (CHP) generation. In particular, by focusing its power generation business in the Seoul metropolitan area, where electricity demand is highly concentrated, the company contributes to stable power supply and helps resolve regional power challenges.
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SK Innovation E&S Power Plant
Natural Gas Power Plant
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Gwangyang Natural Gas Power Plant Gwangyang Natural Gas Power Plant
This power plant started its commercial operation in 2006.
It is Korea's first natural gas power plant with direct imports. -
Paju Natural Gas Power Plant Paju Natural Gas Power Plant
This power plant started its commercial operation in 2017.
As it is located near the metropolitan area, power loss caused by power transmission is minimized. -
Yeoju Natural Gas Power Plant Yeoju Natural Gas Power Plant
Yeoju Natural Gas Power Plant, which commenced operations in 2023, plays a pivotal role in ensuring a stable power supply.
Combined Heat and Power (CHP) Plant
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Hanam combined heat power plant Hanam CHP Plant
This plant is operated by Narae Energy Service, a subsidiary of SK Innovation E&S. Since 2015 when this plant started its commercial operations, it has supplied heating and electricity to Hanam Misa district, Gangil 1 and 2 districts, and Godeok district.
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Wirye combined heat power plant Wirye CHP Plant
This plant is operated by Narae Energy Service, a subsidiary of SK Innovation E&S. Since 2017 when this plant started its commercial operations, it has supplied heating and electricity to Wirye New Town.
Low-carbon LNG development plan
SK Innovation E&S plans to produce low-carbon LNG by applying CCS technology, utilizing the nearby Bayu-Undan depleted gas field and the Darwin LNG plant.In the long term, part of the low-carbon LNG will be used as a feedstock for blue hydrogen, contributing to the development of Korea’s domestic hydrogen ecosystem.
