This photo, provided by POSCO Group, shows its LNG terminal facilities in Gwangyang, South Korea.
SEOUL, Feb. 22 (Korea Bizwire) — POSCO Group, South Korea’s top steelmaking group, said Tuesday it plans to spend 750 billion won (US$627 million) in expanding LNG storage tanks in the country.
Along with its energy affiliate POSCO Energy Co., POSCO will add three 200,000-kiloliter LNG storage tanks near the existing LNG storage complex in the southwestern port of Gwangyang.
The construction of the LNG storage tanks will be completed by 2025, according to POSCO.
The Gwangyang LNG terminal, established in 2005, currently operates five LNG tanks, which can house 730,000 kiloliters.
(Yonhap)
