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POSCO to reorganize LNG processing operations to enhance efficiency

Steel News - Published on Thu, 18 Apr 2019

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Yonhap reported that POSCO said that it will reorganize its liquefied natural gas operations as part of its efforts to enhance its business efficiency. It said “Its board of directors last week approved the transfer of its LNG terminal in Gwangyang, 423 kilometers southeast of Seoul, to its power generation affiliate, POSCO Energy. It will, in exchange, take over the off-gas combined cycle power plant run by the energy affiliate.”

The power plant uses excess gases, generated by the steel mills blast furnaces and coke oven, to create electric power.

The reorganization focuses on raising synergy between POSCO Daewoo, the steelmaker's resource development and trading arm, and POSCO Energy.

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Posted By : Rabi Wangkhem on Thu, 18 Apr 2019
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