Oil and gas giant ExxonMobil has signed a memorandum of understanding with the Korea Institute of Energy Technology Evaluation and Planning and 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, ExxonMobil said in a statement.
Rob Franklin, president of ExxonMobil Gas and Power Marketing, said, “This memorandum of understanding establishes a framework that allows for information exchange on liquefied natural gas technology, research and development projects and best practices.”
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.
Graham Dodds, president of ExxonMobil in Korea, noted that ExxonMobil through its ventures supplies about 30 percent of LNG demand.