Over the past 40 years, GS Caltex, which aims to be a total energy service leader, has been pushing to not only perform in the petroleum and petrochemical businesses, but also to diversify its energy business, thus leading the energy industry.
Furthermore, GS Caltex has expanded its business areas into city gas, LNG, electric power, exploration & production, convenience retail, e-business, New and Renewable Energy, thereby covering all energy fields and becoming a total energy service provider with global competitiveness.
Through our products and services differentiating us from competitors, we will continue to strive to achieve the vision of "The Leader in Providing a Total Energy Service."
GS Caltex has crude oil refining facilities with a capacity of 770,000 barrels a day, and provides a stable supply of oil products to the nation. With Residue Fluid Catalytic Cracking Units designed to crack 145,000 barrels of bunker C oil a day to produce high-valued products such as gasoline, kerosene, and diesel, as well as advanced facilities such as those designed to desulfurize 190,000 barrels of kerosene and diesel a day, GS Caltex proactively responds to the rapidly changing market environment.
Additionally, we operate about 3,400 gas stations and about 300 gas filling stations nationwide. In 1996 we opened Korea's first gas station-convenience store combined chain, JoyMart. This is an advanced lifestyle station, a concept far beyond that of a gas station where oil simply is being filled. Also, since 1994, we have been operating the light maintenance franchise chain, AutoOasis.
GS Caltex vigorously advanced into the petrochemical industry, as the company established plants within its Yeosu Plant Complex to produce polypropylene in 1988, and paraxylene and aromatics in 1990, respectively.
GS Caltex began its aromatics business vigorously with the construction of a plant to produce 200,000 tons of paraxylene and 300,000 tons of aromatics a year in September 1990. Investments in the business have continued in order to keep up with rapidly changing market situations. In April 2003, the Company completed the construction of its third paraxylene unit with a production capacity of 350,000 tons by employing MTPX technology, an advanced technology developed by Exxon-Mobil. The Company's total aromatics production capacity is 2,800,000 tons including 1,200,000 tons of paraxylene, 900,000 tons of benzene annually. This is the world's largest aromatics plant as single site.
Also, polypropylene business, the other part of petrochemical group, was launched in 1988, with the introduction of the Dow Chemical Company's Unipol process of fluidized bed-based vapor-phase polymerization, which allowed the production and supply of the finest-quality polypropylene. We are now capable of producing 180,000 tons of polypropylene a year. Since 2001, we have been producing the entire volume of propylene, the raw material for polypropylene, from the Residue Fluid Catalytic Cracking (RFCC) Unit process.
GS Caltex is moving to become a total energy service provider by adding an environmentally friendly LNG and city gas business to its traditional petroleum and electric power businesses. To this end, we are preparing to construct an LNG Terminal and to conclude LNG import agreements to push ahead with the business of directly importing LNG, as approved by the Ministry of Commerce, Industry and Energy. Through these efforts, after 2008, we will supply LNG for own-use in oil refining utilities in Yeosu Complex, and in generating electric power in GS Power and GS EPS. Also, we have taken over Haeyang City Gas Co., Ltd. and Seorabeol City Gas Co., Ltd. to secure a base for the LNG business, and have formed strategic alliances with Kyungnam Energy Co., Ltd. and Kangnam City Gas Co., Ltd., thus securing a stable demand. Alongside this, we are striving to maximize synergies of the LNG business through the established GS EPS Co., Ltd. and GS Power Co., Ltd. which use LNG as fuel.
GS Caltex has the vision to become "The Leader in Providing Total Energy Service," and is vigorously conducting business in the electric power sector as well as taking great steps towards its goal of becoming a total energy service provider through diversification of its core energy business. In line with the government's strategy to introduce and expand private power generation, GS EPS was established as the first private power generation company in October 1996, with the operation of a 500,000 kw LNG combined-cycle power plant.. Additionally, GS Power Co., Ltd., was established in September 2000, and took over and continued operation of a 900,000 kw combined heat and power plant and district heating facilities in the Anyang and Bucheon areas from KEPCO. Currently, GS Caltex uses clean energy technology, LNG, to efficiently operate a combined-cycle power plant with a total capacity of 1.45 million kw and district heating supply facilities, which play a central role in supplying electric power to the national capital region. We also operate stable and efficient district heating facilities to supply an economic heating service to new towns in Anyang, Pyeongchon and Bucheon.
GS Caltex first entered into the exploration and production business in 2003 by acquiring a 15% participating interest in the exploration and development project of Cambodia Block A Area, located on the west coast of Cambodia. GS Caltex and its partners, Chevron and Mitsui, discovered oil in five exploration wells during the drilling campaign from October 2004 to February 2005. Oil pay logged in the wells ranges from 41 feet to 139 feet and the analysis of samples indicates the oil is a medium gravity, 44 degree API crude.
GS Caltex has been striving to New and Renewable Energy, including fuel cell technologies, since 1989.
Our Value Creation Center is developing fuel cell technologies in conjunction with our subsidiary fuel cell specialist GS FuelCell co.,Ltd, established in November 2000.
After three years of research and development efforts, in April 2004 GS FuelCell developed a high efficiency and compact polymer electrolyte membrane fuel cell(PEMFC) for home(residential power generator) with a capacity of 1kW and using city gas as fuel. We will further push to develop fuel cells through continued investment.
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