SK Innovation E&S Completes Global LNG Value Chain with Complete Control Over Every Stage
SK Innovation E&S has completed its global liquefied natural gas (LNG) value chain, according to Kang Ryun-kwon, head of corporate planning. This achievement allows the company to own and operate every stage of the LNG business, from upstream gas field development and production to downstream power generation.
The company's upstream businesses include a 49.9% equity stake in the Woodford shale gas field in the United States, a 37.5% stake in the Barossa gas field in Australia, and a terminal in Korea. It also leases four LNG carriers and operates terminals in Korea and China.
SK Innovation E&S has secured a total of 3.5 million tons of LNG annually from its upstream businesses. The company's downstream business includes operating combined-cycle power plants with a total capacity of 5 gigawatts, making it the largest private power generator in Korea.
Kang Ryun-kwon emphasized that having a multi-LNG value chain reduces costs and secures business stability. He also stated that investing in competitive gas fields secures cost competitiveness and allows for more flexible response to market changes.