LUPro Signs USD 4.5 Billion Green Energy Contract with Thailand's Ma Corporation in Seoul
Key Ideas
- LUPro signed a 10-year sales and supply contract worth USD 4.5 billion with Thailand's Ma Corporation for green energy resources.
- Thailand Mach Corporation, a global energy trading company, is moving towards green energy amidst the decarbonization era.
- LUPro plans to produce 1 million tons of green hydrogen ammonia annually in Oman to meet the rising demand for eco-friendly energy worldwide.
- The CEO of LUPro, Kim Se-ho, aims to expand the supply of hydrogen energy resources to domestic, Asian, and global markets to promote carbon neutrality.
LUPro, a leading global green energy resource producer, recently sealed a significant deal by signing a 10-year sales and supply contract worth USD 4.5 billion with Thailand's Ma Corporation in Seoul. The agreement aims to cater to the growing demand for eco-friendly energy as companies worldwide gear up for a carbon-neutral future. Thailand Mach Corporation, known for distributing oil, coal, and natural gas resources, is now prioritizing the adoption of green energy. To align with this shift, LUPro has established a joint venture named 'LUPRO-Oman' in Oman and plans to produce 1 million tons of green hydrogen ammonia annually in the Middle East. This production will be facilitated by a 2GW renewable energy complex in Oman, utilizing the region's abundant sunlight. The initiative is a strategic move by LUPro to address the global transition towards green energy and support the fight against climate change. Kim Se-ho, the CEO of LUPro, has expressed intentions to further expand the supply of hydrogen energy resources to not only domestic markets but also across Asia and globally, emphasizing the role of hydrogen in achieving carbon neutrality and combating the climate crisis.
Topics
Middle East
Green Hydrogen
Renewable Energy
Carbon Neutrality
Energy Industry
Global Trade
Climate Crisis
Joint Venture
Oman
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