SK E&S under fire for Australian gas field project


Korea's time


SK E&S under fire for Australian gas field project

SK E&S Vice President Yu Jeong-joon
SK E&S Vice President Yu Jeong-joon

By Lee Kyung-min

SK E&S, an energy subsidiary of the SK Group, faces stiff criticism for a gas field development project in Australia’s Barossa Valley, which a local climate group says is recently in blatant contradiction with the company’s economic desire to respect the environment.

The $ 3.7 billion (4 trillion won) gas field that is expected to operate for 20 years from 2025 runs counter to the much-vaunted sustainable growth initiative of the affiliate, which is one of its affiliates. environmental, social and governance (ESG) values, according to Seoul – solutions based on our climate.

The push for high-carbon activities is all the more appalling, the group said, given the heightened awareness and global consensus on the need to advance green goals, as the statement clearly underscores. made by 33 countries against investments in fossil fuels at COP26. Otherwise known as the 2021 United Nations Climate Change Conference, COP26 was held from October 31 to November 13 in Glasgow, Scotland.

The subsidiary said the project falls under the category of an ESG business, as greenhouse gas emissions will be reduced through the use of carbon capture and storage (CCS). But environmentalists have vehemently criticized this claim, since only 16% of the total produced will be captured.

Choo Hyeong-wook, CEO of SK E&S
Choo Hyeong-wook, CEO of SK E&S

“It is very worrying,” said a local defense group official. “The project will result in huge greenhouse gas emissions, causing what is strongly feared to be irrevocable and irrevocable environmental damage. Local and foreign environmental groups, as well as Australian residents, are all affected. “

A website jointly created in September by the group and three climate activists to campaign against the project has since collected more than 1,000 signatures.

Of the three, two are in Australia – Jubilee Research Center and Environment Center NT (ECNT). The latest is the Japan Center for a Sustainable Environment and Society (JACSES) based in Tokyo.

The campaign urges the SK subsidiary to sever all ties with the Barossa gas project.

“The Barossa project could be one of the dirtiest gas projects in the world. Despite promoting itself as an ‘environmentally friendly energy company’, SK E&S has partnered with Santos to make the project a reality “, says the campaign website.

Yoon Se-jong, an attorney for Solutions for Our Climate, said the project would cause environmental damage.

“The SK E&S CCS plan will only capture and store 16% of the total amount of emissions to be produced. A huge amount of greenhouse gas emissions is inevitable,” he said.


Comments are closed.