South Korea’s Posco Energy starts work on 6th Gwangyang LNG tank

South Korea’s independent power producer Posco Energy is expanding its LNG import terminal at Gwangyang with the addition of a sixth tank.

The firm says the tank will have a capacity of 200,000 kiloliters boosting the terminal’s total storage capacity to 930,000 kiloliters in six tanks.

In addition, Posco Energy expects the expansion worth about 143.7 billion won ($131 million) to complete in May 2024.

Posco Energy is building the facility in cooperation with parent steel producing giant Posco and its engineering unit Posco E&C.

Gwangyang LNG terminal is Korea’s first private LNG terminal besides the Kogas-owned facilities.

The first and the second tanks started operation in 2005 followed by the third in October 2010 and the fourth in May 2013. The latest and the fifth tank started commercial operations in December 2019.

Besides LNG tanks, the terminal also features an LPG tank, a jetty and other regasification and additional facilities.

Most Popular

Monkey Island LNG selects ConocoPhillips’ liquefaction tech

Monkey Island LNG has selected ConocoPhillips’ optimized cascade process liquefaction technology for its planned 26 mtpa liquefaction and export facility in Cameron Parish, Louisiana.

Italy’s Adriatic LNG to resume full ops by mid-September

Italy’s Adriatic LNG import terminal, owned by VTTI and Snam, expects to resume full operations by the middle of this month following the completion of maintenance activities.

Gasgrid says seven Inkoo regas slots booked

Firms have booked seven regasification slots at the Inkoo FSRU-based terminal for 2026 following the completion of the annual allocation procedure, according to Finland’s gas system and LNG terminal operator Gasgrid.

More News Like This

Kogas, Kospo seal 10-year gas supply deal

South Korean LNG importing giant Kogas has signed a 10-year gas supply deal with Korea Southern Power (Kospo).

LNG Canada sends tenth cargo

Shell-led LNG Canada has shipped the tenth cargo of liquefied natural gas from its Kitimat facility on the west coast of Canada.

Trafigura, Kogas seal long-term US LNG supply deal

LNG trader Trafigura has signed a long-term deal to supply US LNG to South Korean importer Kogas.

Doosan clinches Dangjin LNG tank gig from Kogas

South Korea’s Doosan Enerbility has won a contract from compatriot LNG importer Kogas to build three new LNG storage tanks at the latter’s import terminal in Dangjin.