In response to the growing demand for LNG, POSCO Energy has focused on market expansion and decided to expand the existing Gwangyang LNG Terminal facilities. Through an investment of approximately KRW 143.7 billion, the installation of Tank No. 6 with a capacity of 200,000 ㎘ is scheduled to be completed in May 2024.
Gwangyang LNG Terminal’s storage capacity will increase from 730,000 ㎘ (tanks nos. 1–5 in operation) to 930,000 ㎘. Similar to tank no. 5, tank no. 6 will be built through cooperation amongst the POSCO Group affiliates. For the first time in the world, POSCO’s proprietary technology in high manganese steel for LNG tanks and high-strength steel material (STP550) will be applied to tank no. 6.
In addition, POSCO E&C’s onshore LNG tank design technology verified across the world along with the installation technology jointly developed with POSCO, will further contribute to this project. Through the incorporation of POSCO Energy’s stability verification capacity and operating technology, Gwangyang LNG Terminal is expected to become a top-tier premium facility.