POSCO International invests 1 trillion won in expanding LNG Terminal

POSCO International invests 1 trillion won in expanding LNG Terminal: COMPANY / Reporter Paul Lee / 2023-01-31 21:34:34

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[Alpha Biz=(Chicago) Reporter Paul Lee] POSCO International, POSCO Group's general trading company, will invest 1 trillion won to expand its liquefied natural gas (LNG) terminal in Gwangyang, South Jeolla Province.

POSCO International held a groundbreaking ceremony for Terminal 2 in Gwangyang on the 31st.

There are five LNG tanks in Terminal 1. Imported LNG can be stored up to 730,000 kL (kliters). Construction of Unit 6, the last tank of Terminal 1, is in full swing. With the goal of completion in June next year, about 53% of the work has progressed.

The company opened the construction site to the media on the 27th.

Terminal 2 will be built on a 348,041㎡ wide site near Terminal 1. Six more 200,000kL tanks, the same as Units 5 and 6, will be built. The goal is to build two units of Units 7 and 8 first by 2025. Once the expansion is completed, the storage capacity of the Gwangyang LNG terminal will increase to 1.33 million kL. This is the amount that the entire nation can use heating gas for 40 days.