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Posco announces completion of its Gwangyang LNG import terminal in South Korea

Posco International, a subsidiary of the South Korean company Posco, has announced the completion of its 4.2 Mt/year first Gwangyang LNG import terminal, located on the southern coast of South Korea, after it added the sixth LNG tank at the site. The first Gwangyang LNG terminal now has a total storage capacity of 930,000 m3 across six tanks. 

Posco International began construction in 2023 on an adjacent site for its second LNG terminal in Gwangyang, expected for completion by 2026.

In 2023, South Korea imported over 47 Mt of LNG and had a regasification capacity of 106.7 Mt/year. All of South Korea’s natural gas imports are LNG.

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