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, 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 Total Energy Service."
GS Caltex has crude oil refining facilities with a capacity of 750,000 barrels a day, and provides a stable supply of oil products to the nation. With Heavy Oil Upgrading(HOU) facilities designed to crack 155,000 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 272,000 barrels of kerosene and diesel a day, GS Caltex proactively responds to the rapidly changing market environment.
Additionally, we operate about 3,500 gas stations and about 400 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 city gas business to its traditional petroleum and electric power businesses. 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 two 500,000 kw LNG combined-cycle power plants. 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 has successfully entered into the E&P business through participating in the Cambodian Block A project in 2003, and continued with Thailand ground explorations in 2006. Furthermore in October 2007, GS Caltex has formalized contracts for exploration in Vietnam where possibilities for discovering oil are high. GS Caltex's exploration locations are made carefully, and backed with refining and marketing knowledge accumulated since its foundation in 1967. GS Caltex is pursuing oil exploration projects in South East Asia, Central Asia, the Middle East and other sites in order to direct import 10% of its crude oil demands.
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.
Through continuous effort, GS FuelCell has successfully produced 50kW phosphoric acid fuel cell for large buildings and apartments, 1kW fuel cell prototype for residences using city gas, 3kW household-level fuel cell combined heat and power plant, and small fuel cell for laptops. In addition, GS Caltex is expanding its research into hydrogen stations in order to prepare for the commercialization of fuel cell automobiles. In September 2007, GS Caltex introduced the first hydrogen station in Korea for consumer use, and currently running it with conducting further tests. Through these efforts, GS Caltex will continue to lead the development of environment-friendly, high-efficient energy for the future.
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