[Special Stock] Intensifying Pressure from "Alaska LNG Project"... Wonil TNI Draws Attention for Core Technologies

Wonil TNI, a newly listed company on KOSDAQ, is showing strong performance. The company's stock appears to be influenced by news that the United States has invited a high-ranking Korean official to a conference in Alaska scheduled for June 3. Investors are focusing on the company's possession of key original technologies in the liquefied natural gas (LNG) and hydrogen sectors, as well as its achievements in localizing its products.

As of 11:39 a.m. on May 16, Wonil TNI was trading at 31,500 KRW, up 13.92% from the previous trading day.

The government of Alaska has invited high-level trade officials from major countries, including Korea, to the "Alaska Sustainable Energy" conference, which will be held in Anchorage over three days starting June 3. This move is seen as a way to ramp up pressure for participation in the Alaska liquefied natural gas (LNG) project. For the Korean government, this comes at an awkward time, as it is just before the launch of the next administration.

The Alaska LNG project involves extracting natural gas from fields in northern Alaska, transporting it via a 1,300-kilometer pipeline, liquefying it, and then exporting it. The Korean government is considering participation in the LNG project as a bargaining chip in tariff negotiations with the United States.

Wonil TNI, with its 35-year history, has consistently responded to changes in the energy paradigm and is now actively expanding from nuclear energy into the LNG and hydrogen businesses. After its listing, the largest shareholder's stake stands at 68.21%.

In the LNG sector, the company has secured a unique competitive advantage in the "High-Pressure Combustion Vaporizer (SCV)", which converts LNG into natural gas (NG). It is also the exclusive domestic supplier of the "BOG Recondenser", which re-liquefies boil-off gas by mixing it with LNG. In the hydrogen sector, the company is expanding its business around the only domestically mass-produced "hydrogen storage alloy" technology, which offers significantly higher safety compared to other storage methods in liquid or gaseous form.

The hydrogen reformer business, which involves facilities that extract hydrogen from natural gas, is notable for its scalability and is expected to continue receiving additional orders starting from the first half of this year. In addition, the company possesses technology that combines a "carbon capture unit (CCUS)" to reduce carbon emissions, enabling the production of blue hydrogen.

Yoon Cheolhwan, a researcher at Korea Investment & Securities, stated, "The company manufactures exclusive products based on its technological prowess," adding, "The flagship product, the High-Pressure Combustion Vaporizer (SCV), is a device used at LNG terminals to vaporize liquefied natural gas into natural gas." He further emphasized, "Based on growing global LNG demand, the company exports its products not only domestically but also to countries such as the United States, China, India, and Kuwait. It has also supplied hydrogen reformers to hydrogen production bases and refueling stations in locations such as Pyeongtaek and Ansan."

Certain environmental groups argue that, depending on the application of CCS (carbon capture and storage technology), the total carbon cost of the Alaska LNG project could range from approximately 3,300 trillion KRW to as much as 6,300 trillion KRW. According to the final environmental impact statement (Final SEIS) for the Alaska LNG project released by the U.S. Department of Energy (DOE) in 2023, the North Slope of Alaska contains a total gas resource of 41.1 Tcf (approximately 934.8 million tons). The plan is to export about 27.8 Tcf (632.3 million tons) to various countries over roughly 30 years, starting as early as 2029. This volume is about 14 times Korea's annual gas import volume in 2023 (44.11 million tons).

The environmental impact statement estimated greenhouse gas emissions from LNG usage based on a scenario designating Korea as one of the main export countries.