ExxonMobil, Korea Tech Institute Korea Gas collaborate R&D
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ExxonMobil, Korea Tech Institute and Korea Gas collaborate for R&D

5:07 PM, 19th June 2015
ExxonMobil, Korea Tech Institute and Korea Gas collaborate for R&D

HOUSTON, US: ExxonMobil said it signed a memorandum of understanding with the Korea Institute of Energy Technology (evaluation and planning) and the Korea Gas Corporation (KOGAS) to hold discussions concerning natural gas technologies and new energy technologies.

The agreement will focus on the natural gas value chain, including cryogenic materials, hydrogen production and fuel cell utilization, energy efficiency technologies and technologies associated with robotics and automation.

The multi-year agreement was signed in the presence of Youngsam Kim, director general of investment policy at the Korea Ministry of Trade and Industry; Sara Ortwein, president of ExxonMobil upstream research company; Richard Guerrant, vice president, ExxonMobil gas and power marketing company; and Graham Dodds, president, ExxonMobil in Korea.

“This MoU establishes a framework that allows for information exchange on LNG technology, research and development projects and best practices. It will enable professional exchanges that will help expand our joint capabilities,” said Rob Franklin, president, gas and power marketing, ExxonMobil.

Technology development is vital to providing energy to help meet the world’s energy needs, said Ortwein.

“ExxonMobil through its ventures supplies about 30 percent of LNG demand, manufactures and markets Mobil-branded lubricants and markets ExxonMobil chemical products in the country. This agreement strengthens the links between ExxonMobil and Korea,” said Dodds.

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