POSCO Turns Its Attention to 'LNG Storage Tanks'

[Asia Economy Reporter Hwang Yoon-joo] POSCO has succeeded in developing a high value-added product that can be applied to liquefied natural gas (LNG) ships, for which demand is expected to increase. If LNG ship orders rise, POSCO is also expected to benefit.

POSCO will showcase its newly developed high-manganese steel LNG storage tank for the first time at 'Gastech 2014,' held at KINTEX in Ilsan on the 24th.

To respond to the increasing demand for LNG, POSCO jointly developed the high-manganese steel LNG storage tank with KAIST. This is a groundbreaking facility that increases the maximum storage capacity from the existing 1,000㎥ to 20,000㎥, which is 20 times larger.

The ability to develop such a large LNG storage tank was made possible by the combination of POSCO's recently developed high-manganese steel and KAIST's 'lattice structure technology.'

The high-manganese steel, first developed by POSCO, is an energy steel that withstands extremely low temperatures, suitable for LNG stored at -162℃, and has better weldability than the stainless steel currently used, making tank fabrication easier. The technology applied to maximize the excellent competitiveness of this high-manganese steel is KAIST's lattice structure technology.

POSCO's strategy is to overcome the demand cliff in the shipbuilding sector, which is experiencing stagnation, through new product development. The high-manganese steel lattice-type pressure vessel developed by POSCO has the advantage of reducing tank installation space and significantly lowering manufacturing costs. Applying a 15,000㎥ lattice-type pressure vessel to a 13,000 TEU container ship allows for an additional 900 containers to be loaded. The price of high-manganese steel is about two-thirds that of the existing stainless steel material, reducing manufacturing costs by approximately 2 billion KRW based on a 5,000㎥ tank.

Furthermore, POSCO plans to demonstrate stability by installing high-manganese steel LNG storage tanks on its product transport ships. If the cost-effective and manufacturable high-manganese steel is certified as an international standard LNG storage tank material, it is expected to be applicable to LNG tanks worldwide, creating significant new demand.

The high-manganese steel lattice-type pressure vessel represents a new value management model. With large-capacity LNG storage tanks, shipping companies can operate long distances using cheaper energy, thereby reducing fuel costs.

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