POSCO Energy Officially Begins Construction of 6 Tanks at Gwangyang LNG Terminal

[Asia Economy Reporter Park So-yeon] POSCO Energy is expanding the Gwangyang LNG Terminal facilities to respond to the growing demand and market expansion for LNG.

On the 14th, POSCO Energy held a groundbreaking ceremony for the expansion of 6 tanks at the POSCO Energy LNG Terminal located in Gwangyang-si, Jeollanam-do.

Considering the COVID-19 situation, the event was simplified and attended only by essential personnel, including Shin Eun-ju, Head of POSCO Energy Terminal Business Division, Kim Cheol-gwan, Head of POSCO Construction Chemical Business Division, Kwon Kyung-hwan, Head of POSCO ICT SmartEIC Business Division, and Kim Sang-eok, Head of POSCO A&C Plant CM Business Division.

The six tanks to be expanded this time will have a capacity of 200,000㎘, with an investment of approximately 143.7 billion KRW, and are scheduled to be completed in May 2024. Upon completion, the storage capacity of the Gwangyang LNG Terminal will increase from the current 730,000㎘ of tanks 1 to 5 in operation to 930,000㎘.

In particular, the 6 tanks will be constructed through collaboration based on synergy among POSCO Group companies, as was the case with the construction of tank 5. ▲ POSCO’s world-first independently developed high-manganese steel and high-strength steel (STP550) for LNG tank inner materials will be applied, ▲ POSCO Construction’s globally verified onshore LNG tank design technology and construction technology jointly developed with POSCO will be reflected, ▲ and POSCO Energy’s safety verification capabilities and operational technology will be integrated to build a top-tier premium LNG terminal.

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