ExxonMobil, Korea Institute of Technology and Korea Gas Corporation to Collaborate on Research and Development
June 18 2015 - 2:34PM
Business Wire
ExxonMobil today 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 of ExxonMobil
Gas and Power Marketing Company; and Graham Dodds, president of
ExxonMobil in Korea.
Rob Franklin, president of ExxonMobil Gas and Power Marketing,
said ExxonMobil is a world leader in LNG across the entire value
chain.
“This memorandum of understanding establishes a framework that
allows for information exchange on liquefied natural gas
technology, research and development projects and best practices,”
said Franklin. “It will enable professional exchanges that will
help expand our joint capabilities.”
Sara Ortwein, president of ExxonMobil Upstream Research Company,
said the technology development is vital to providing energy to
help meet the world’s energy needs.
“Strong partnerships are key to developing and delivering
integrated technology solutions,” Ortwein said. “We look forward to
working with the Korea Institute of Energy Technology Evaluation
and Planning and the Korea Gas Corporation to advance new research
and development opportunities and energy technologies.”
Graham Dodds, president of ExxonMobil in Korea, noted that
ExxonMobil has had a presence in Korea for more than 40 years, and
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.
About ExxonMobil
ExxonMobil, the largest publicly traded international oil and
gas company, uses technology and innovation to help meet the
world’s growing energy needs. ExxonMobil holds an industry-leading
inventory of resources and is one of the world’s largest integrated
refiners, marketers of petroleum products and chemical
manufacturers. For more information, visit www.exxonmobil.com or
follow us on Twitter www.twitter.com/exxonmobil.
CAUTIONARY STATEMENT: Statements of future events or conditions
in this release are forward-looking statements. Actual future
results, including project plans and schedules and future
technology developments could differ materially due to changes in
market conditions affecting the oil, gas and petrochemical
industries or long-term oil, gas and petrochemical price levels;
the outcome of research and development projects; political and
regulatory factors; actions of competitors; technical or operating
factors; the outcome of future commercial negotiations; and other
factors discussed in more detail under the heading “Factors
Affecting Future Results” on the Investors page of our website at
exxonmobil.com and in Item 1A of ExxonMobil’s most recent Annual
Report on Form 10-K.
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