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Port of Ulsan Secures $17.6M Deal to Expand Green Fuel Storage

August 12, 2024 1 min read
author Anamika Mishra, Sub Editor
The Ulsan Port Authority (UPA) in South Korea has entered into a $17.6 million investment agreement with Hyundai Oil Terminal Corporation to establish a supply chain hub for alternative fuels at the port. This deal, reported by Ship Technology, aims to enhance the port's storage capacity for liquified natural gas (LNG) and create distribution corridors to supply other shipping hubs across South Korea. In addition, Hyundai Oil is investing $219 million to expand storage facilities for oil, green methanol, and ethanol at the port, increasing their combined capacity

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