POSCO International Completes Gwangyang No. 2 LNG Terminal

South Korea's largest privately operated storage facility... total capacity reaches 1.33 million kL
Can store enough heating energy for the entire population for 40 days
"Enhance the LNG value chain and contribute to national energy security"

POSCO International has completed the Gwangyang No. 2 LNG Terminal, strengthening its role as a frontline base for national energy security and advancing the group's future growth engines.

POSCO International held a completion ceremony on November 10 at the Gwangyang No. 2 LNG Terminal in Gwangyang City. About 100 people attended, including National Assembly member Kwon Hyangyeop, Gwangyang Mayor Park Seonghyeon, POSCO Group Chairman Chang Inhwa and POSCO International President Lee Gyein.

A view of POSCO International's Gwangyang LNG Terminal from the pier. Photo provided by Gwangyang Steelworks.

The project, which cost KRW 949.2 billion, was completed after 47 months of construction. It includes two LNG storage tanks, each with a capacity of 200,000 kL, a berth for LNG carriers and a bunkering berth.

As a result, the Gwangyang LNG Terminal's total storage capacity has increased from 930,000 kL to 1.33 million kL. It is the largest facility of its kind in South Korea operated by a single private company and can store enough heating gas for the entire population to use for about 40 days.

With the completion of the terminal, POSCO International plans to strengthen its competitiveness across the LNG value chain, from gas field development and production to LNG trading, storage and processing, and power generation. The company also plans to expand LNG carrier commissioning and ship fuel supply businesses to diversify its revenue base.

In particular, the terminal brings together the technological and business capabilities of POSCO Group affiliates: it uses cryogenic high-manganese steel developed by POSCO, was built by POSCO E&C and is operated by POSCO International.

POSCO Group Chairman Chang Inhwa said, "The Gwangyang No. 2 LNG Terminal is a concrete outcome of the energy resources pillar of the group's Triple Core Strategy. We will enhance the completeness of the LNG value chain and contribute to national energy security."

Building on its steelworks in Gwangyang and its lithium, cathode materials and recycling businesses at the Yulchon Industrial Complex, POSCO Group plans to develop the Gwangyang Bay area into a key industrial hub where steel, secondary battery materials and energy resources are concentrated, adding the LNG terminal to its portfolio.

This content was produced with the assistance of AI translation services.