U.S. engineering firm Matrix Service Company (MTRX) has signed a deal with Korea Gas Corporation (KOGAS) to support South Korea’s development of a hydrogen economy.

On 8 August, MTRX said it signed a memorandum of understanding (MoU) with KOGAS to support Korea’s development of a hydrogen economy as it transforms itself from a natural gas supplier to a hydrogen platform operator.

The MoU provides the framework for the development of new technology to support large-scale liquid hydrogen storage. This is specifically to add to South Korea’s plans to achieve carbon neutrality by 2050.

The deal also supports the development of solutions that will allow transportation of greater volumes of hydrogen by transport ship.

“Hydrogen is key to achieving our country’s net-zero carbon objectives, and KOGAS is happy to take a leading role in creating a solid foundation for this,” said Hee-Bong Chae, CEO of KOGAS. “We are proactively pursuing the development of new technologies and infrastructure for hydrogen shipping, storage, and distribution to meet mid- and long-term demands.”

Matrix Service Company is known for its cryogenic storage tanks and terminals.

John R. Hewitt, CEO of MTRX, added: “We are honored to have been selected by KOGAS to help them develop the technology solutions needed to meet these onshore and ship transport requirements.”