This photo provided by POSCO International Corp. on Aug. 10, 2023, shows an operating site of Senex Energy Ltd., an Australian energy company.
SEOUL, Aug. 10 (Korea Bizwire) — POSCO International Corp. said Thursday its Australia-based subsidiary has signed a string of long-term gas supply deals with steel, utility and other companies in the country.
Senex Energy Ltd. signed the agreements with seven companies, including Australia’s largest electricity generator, AGL Energy Ltd., as well as BlueScope Steel Ltd., Liberty Steel, Orora and three others, the general trading unit of South Korean steel giant POSCO Holdings Inc. said in a release.
Senex Energy is 50.1 percent owned by POSCO International.
Senex Energy will provide about 133 petajoules of natural gas to these companies for up to 10 years, starting in 2025, POSCO International said.
A petajoule is the standard unit of energy. One joule is the equivalent of one watt of power dissipated for one second. One petajoule is equivalent to 278 gigawatt hours.
The agreed-upon supply volume of 133 petajoules is enough to produce some 2.5 million tons of liquefied natural gas, which can supply about 25 percent of the eastern area of Australia, POSCO International said.
POSCO International is also spending A$300 million (US$195.9 million) with Hancock Energy, its Australian partner and a major shareholder of Senex, to expand its gas treatment facility in northeastern Australia.
(Yonhap)
