Seoul: Hyundai Engineering Co. announced its collaboration with Australian energy company Woodside Energy Ltd. to work on liquefied natural gas (LNG) liquefaction plant projects. This move is part of a trilateral memorandum of understanding (MOU) that also includes Hyundai Glovis Co.
According to Yonhap News Agency, Hyundai Engineering plans to utilize its global engineering, procurement, and construction (EPC) capabilities to provide comprehensive engineering solutions for Woodside Energy's LNG liquefaction plants. The company views the MOU as a strategic entry point into the global LNG liquefaction market, aiming to enhance its project execution abilities and diversify its energy sector portfolio.
Alongside LNG projects, Hyundai Engineering intends to explore other low-carbon and renewable energy ventures. These include sustainable aviation fuel, bio diesel, solar, and wind energy plants, aligning with the company's broader decarbonization strategy. "We will bring our full capabilities to deliver total engineering solutions for Woodside's LNG projects," stated Sohn Myung-geon, head of Hyundai Engineering's plant business division.