{"id":12409,"date":"2024-07-18T03:02:14","date_gmt":"2024-07-18T03:02:14","guid":{"rendered":"https:\/\/economicherald.net\/?p=12409"},"modified":"2024-07-18T03:02:14","modified_gmt":"2024-07-18T03:02:14","slug":"pilot-energy-gets-key-korean-support-for-green-power","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=12409","title":{"rendered":"Pilot Energy gets key Korean support for green power"},"content":{"rendered":"<p>Pilot Energy has secured the support of a consortium of Korea\u2019s power generation and energy companies for its Mid West Clean Energy Project<br \/>\nThe consortium has appointed a range of advisors to help conduct detailed due diligence on the project<br \/>\nThe first stage of the MWCEP involves the conversion of the depleted Cliff Head offshore oil field into a major permanent carbon storage operation<\/p>\n<p>\u00a0<\/p>\n<p><strong><em>Special Report: <\/em><\/strong><strong>Pilot Energy\u2019s groundbreaking <\/strong><strong>Mid West Clean Energy Project is a huge step closer to take-off after <\/strong><strong>securing <\/strong><strong>the support of a consortium of Korea\u2019s major power generation and energy companies. <\/strong><\/p>\n<p>The formation of the \u201cK-Consortium\u201d, which aims to secure a major stake in the MWCEP, closely follows the <a href=\"https:\/\/stockhead.com.au\/energy\/pilot-gets-green-light-for-mid-west-clean-energy-project\/\">Federal Government\u2019s declaration approving offshore permanent carbon storage at the MWCEP<\/a> last month<strong>.<\/strong><\/p>\n<p>The group of leading corporations is also responding to the <a href=\"https:\/\/stockhead.com.au\/energy\/pilot-energy-transforming-carbon-capture-and-clean-power-into-cash\/\">Korean hydrogen power generation auction market<\/a>.<\/p>\n<p>The auction of multi-billion hours of clean-hydrogen-fired\u00a0power will support South Korea\u2019s plans to more than triple renewable energy generation, which is part of its commitment to generate most of its electricity from carbon-free energy sources by 2038.<\/p>\n<p>An Austrade-supported Korean delegation visited <a href=\"https:\/\/stockhead.com.au\/?s=pgy\">Pilot Energy\u2019s (ASX:PGY)<\/a> MWCEP in May and the consortium has now formally appointed technical, market, financial and legal advisors to help conduct detailed due diligence on the project.<\/p>\n<p>Pilot and the K-Consortium will concurrently start negotiating the key terms of the Joint Development Agreement and jointly funding the commencement of Front-End\u00a0Engineering\u00a0Design based on the results of the due diligence.<\/p>\n<p>\u00a0<\/p>\n<h2><strong>How the clean energy project works<\/strong><\/h2>\n<p>The first stage of the MWCEP, set for 2026, involves the conversion of the depleted Cliff Head offshore oil field into a permanent carbon storage operation that can hold more than 1 million tonnes per annum of CO2. It will capture and store CO2 emissions from existing external industrial sources plus capture nearly 99% of the CO2 generated by the project itself.<\/p>\n<p>With over 50Mt of potential storage capacity, the carbon storage component of the MWCEP will be among the top 10 carbon storage projects globally and it\u2019s expected to allow for continuous injection through to 2050.<\/p>\n<p>The next phase, scheduled to launch in 2028, involves the MWCEP producing up to 1Mt of clean ammonia for export to Australia\u2019s key APAC markets, including South Korea.<\/p>\n<p>The project has been designed to also incorporate the future supply of hydrogen into WA\u2019s domestic energy market.<\/p>\n<p>The hydrogen production process will produce blue hydrogen (derived from natural gas with CO2 capture) and in later stages green hydrogen (from renewable energy sources). Pilot intends to deploy 8 Rivers\u2019 technology that produces gas-based hydrogen with carbon capture at industry-leading rates of beyond 99%.<\/p>\n<p>\u00a0<\/p>\n\n<p><span class=\"mce_SELRES_start\">\ufeff<\/span>\u00a0<\/p>\n<p><em>This article was developed in collaboration with Pilot Energy, a Stockhead advertiser at the time of publishing.<\/em><\/p>\n<p>\u00a0<\/p>\n<p><em>This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.<\/em><\/p>\n<p>The post <a href=\"https:\/\/stockhead.com.au\/energy\/pilot-energy-gets-key-korean-support-for-green-power\/\">Pilot Energy gets key Korean support for green power<\/a> appeared first on <a href=\"https:\/\/stockhead.com.au\/\">Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>Pilot Energy has secured the support of a consortium of Korea\u2019s power generation and energy companies for its Mid West Clean Energy Project The consortium <a href=\"https:\/\/economicherald.net\/?p=12409\" class=\"read-more-link\">[more&#8230;]<\/a><\/p>\n","protected":false},"author":0,"featured_media":12410,"comment_status":"","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-12409","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Pilot Energy gets key Korean support for green power - Economic Herald<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/economicherald.net\/?p=12409\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pilot Energy gets key Korean support for green power - Economic Herald\" \/>\n<meta property=\"og:description\" content=\"Pilot Energy has secured the support of a consortium of Korea\u2019s power generation and energy companies for its Mid West Clean Energy Project The consortium [more...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/economicherald.net\/?p=12409\" \/>\n<meta property=\"og:site_name\" content=\"Economic Herald\" \/>\n<meta property=\"article:published_time\" content=\"2024-07-18T03:02:14+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=12409#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=12409\"},\"author\":{\"name\":\"\",\"@id\":\"\"},\"headline\":\"Pilot Energy gets key Korean support for green power\",\"datePublished\":\"2024-07-18T03:02:14+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=12409\"},\"wordCount\":502,\"publisher\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=12409#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/economicherald.net\\\/wp-content\\\/uploads\\\/2024\\\/07\\\/GettyImages-1311468477-1200_x_675-vMjBPi.jpeg\",\"articleSection\":[\"Finance\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=12409\",\"url\":\"https:\\\/\\\/economicherald.net\\\/?p=12409\",\"name\":\"Pilot Energy gets key Korean support for green power - Economic Herald\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=12409#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=12409#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/economicherald.net\\\/wp-content\\\/uploads\\\/2024\\\/07\\\/GettyImages-1311468477-1200_x_675-vMjBPi.jpeg\",\"datePublished\":\"2024-07-18T03:02:14+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=12409#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/economicherald.net\\\/?p=12409\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=12409#primaryimage\",\"url\":\"https:\\\/\\\/economicherald.net\\\/wp-content\\\/uploads\\\/2024\\\/07\\\/GettyImages-1311468477-1200_x_675-vMjBPi.jpeg\",\"contentUrl\":\"https:\\\/\\\/economicherald.net\\\/wp-content\\\/uploads\\\/2024\\\/07\\\/GettyImages-1311468477-1200_x_675-vMjBPi.jpeg\",\"width\":1200,\"height\":675},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=12409#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/economicherald.net\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Pilot Energy gets key Korean support for green power\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/#website\",\"url\":\"https:\\\/\\\/economicherald.net\\\/\",\"name\":\"Economic Herald\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/economicherald.net\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/#organization\",\"name\":\"Economic Herald\",\"url\":\"https:\\\/\\\/economicherald.net\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/economicherald.net\\\/wp-content\\\/uploads\\\/2023\\\/10\\\/cropped-cropped-economicheraldlogo-1.png\",\"contentUrl\":\"https:\\\/\\\/economicherald.net\\\/wp-content\\\/uploads\\\/2023\\\/10\\\/cropped-cropped-economicheraldlogo-1.png\",\"width\":850,\"height\":760,\"caption\":\"Economic Herald\"},\"image\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/#\\\/schema\\\/logo\\\/image\\\/\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Pilot Energy gets key Korean support for green power - Economic Herald","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/economicherald.net\/?p=12409","og_locale":"en_US","og_type":"article","og_title":"Pilot Energy gets key Korean support for green power - Economic Herald","og_description":"Pilot Energy has secured the support of a consortium of Korea\u2019s power generation and energy companies for its Mid West Clean Energy Project The consortium [more...]","og_url":"https:\/\/economicherald.net\/?p=12409","og_site_name":"Economic Herald","article_published_time":"2024-07-18T03:02:14+00:00","twitter_card":"summary_large_image","twitter_misc":{"Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/economicherald.net\/?p=12409#article","isPartOf":{"@id":"https:\/\/economicherald.net\/?p=12409"},"author":{"name":"","@id":""},"headline":"Pilot Energy gets key Korean support for green power","datePublished":"2024-07-18T03:02:14+00:00","mainEntityOfPage":{"@id":"https:\/\/economicherald.net\/?p=12409"},"wordCount":502,"publisher":{"@id":"https:\/\/economicherald.net\/#organization"},"image":{"@id":"https:\/\/economicherald.net\/?p=12409#primaryimage"},"thumbnailUrl":"https:\/\/economicherald.net\/wp-content\/uploads\/2024\/07\/GettyImages-1311468477-1200_x_675-vMjBPi.jpeg","articleSection":["Finance"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/economicherald.net\/?p=12409","url":"https:\/\/economicherald.net\/?p=12409","name":"Pilot Energy gets key Korean support for green power - Economic Herald","isPartOf":{"@id":"https:\/\/economicherald.net\/#website"},"primaryImageOfPage":{"@id":"https:\/\/economicherald.net\/?p=12409#primaryimage"},"image":{"@id":"https:\/\/economicherald.net\/?p=12409#primaryimage"},"thumbnailUrl":"https:\/\/economicherald.net\/wp-content\/uploads\/2024\/07\/GettyImages-1311468477-1200_x_675-vMjBPi.jpeg","datePublished":"2024-07-18T03:02:14+00:00","breadcrumb":{"@id":"https:\/\/economicherald.net\/?p=12409#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/economicherald.net\/?p=12409"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/economicherald.net\/?p=12409#primaryimage","url":"https:\/\/economicherald.net\/wp-content\/uploads\/2024\/07\/GettyImages-1311468477-1200_x_675-vMjBPi.jpeg","contentUrl":"https:\/\/economicherald.net\/wp-content\/uploads\/2024\/07\/GettyImages-1311468477-1200_x_675-vMjBPi.jpeg","width":1200,"height":675},{"@type":"BreadcrumbList","@id":"https:\/\/economicherald.net\/?p=12409#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/economicherald.net\/"},{"@type":"ListItem","position":2,"name":"Pilot Energy gets key Korean support for green power"}]},{"@type":"WebSite","@id":"https:\/\/economicherald.net\/#website","url":"https:\/\/economicherald.net\/","name":"Economic Herald","description":"","publisher":{"@id":"https:\/\/economicherald.net\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/economicherald.net\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/economicherald.net\/#organization","name":"Economic Herald","url":"https:\/\/economicherald.net\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/economicherald.net\/#\/schema\/logo\/image\/","url":"https:\/\/economicherald.net\/wp-content\/uploads\/2023\/10\/cropped-cropped-economicheraldlogo-1.png","contentUrl":"https:\/\/economicherald.net\/wp-content\/uploads\/2023\/10\/cropped-cropped-economicheraldlogo-1.png","width":850,"height":760,"caption":"Economic Herald"},"image":{"@id":"https:\/\/economicherald.net\/#\/schema\/logo\/image\/"}}]}},"_links":{"self":[{"href":"https:\/\/economicherald.net\/index.php?rest_route=\/wp\/v2\/posts\/12409","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/economicherald.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/economicherald.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/economicherald.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=12409"}],"version-history":[{"count":0,"href":"https:\/\/economicherald.net\/index.php?rest_route=\/wp\/v2\/posts\/12409\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/economicherald.net\/index.php?rest_route=\/wp\/v2\/media\/12410"}],"wp:attachment":[{"href":"https:\/\/economicherald.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12409"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/economicherald.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12409"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/economicherald.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12409"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}