POSCO to invest €753 million to increase LNG storage capacity

POSCO International has announced that it will increase its LNG storage capacity by spending 1 trillion won (€753 million) to build a new LNG terminal in South Korea.

The LNG terminal will be located near the company’s existing LNG facility in the national industrial complex in Gwangyang.

Once construction is completed, the company will have a combined LNG storage capacity of 1.33 million kl.

Additionally, POSCO aims to build two LNG tanks for the second facility by 2025.

This development will make POSCO the largest private LNG terminal operator in the country and the 11th player worldwide.