POSCO mulls Gwangyang LNG stake sale

POSCO of South Korea is reportedly aiming to sell a stake in the company’s LNG import terminal in the southwestern city of Gwangyang.

The company may sell as much as 49 percent of the LNG import terminal, and has hired a foreign brokerage to manage the deal, worth more than 400 billion Korean won ($387.26 million), Reuters informs.

The Gwangyang LNG terminal has a nominal annual capacity of 1.7 million tons of LNG and has started its operations in 2005.

LNG World News Staff, July 16, 2014; Image: POSCO

 

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