Thursday, January 26 2023 Sign In   |    Register
 

News Quick Search


 

News


Front Page
Power News
Gas News
Today's News
Yesterday's News
Week of Jan 23
Week of Jan 16
Week of Jan 09
Week of Jan 02
Week of Dec 26
By Topic
By News Partner
News Customization
Feedback

 

Pro Plus(+)


Add on products to your professional subscription.
  • Energy Archive News
  •  



    Home > News > Gas News > News Article

    Share by Email E-mail Printer Friendly Print

    POSCO International to invest $2.67 billion in 3 years after POSCO Energy merger


    December 2, 2022 - Korea Times

     

      POSCO International which is set to merge with POSCO Energy, unveiled a plan to invest 3.8 trillion won ($2.67 billion) by 2025 to become a global energy company, during a company shareholders' meeting, which was held on Friday.

      POSCO International held a shareholders' meeting at the POSCO Center in Incheon and announced that it would invest 3.8 trillion won from next year to 2025 to secure a liquefied natural gas (LNG) value chain.

      Specifically, 1.6 trillion won will be invested in the construction of a liquefied natural gas (LNG) terminal. Funds will be used to build the Gwangyang one and two LNG terminals, the Dangjin LNG terminal and North American liquefaction plants.

      Next, it will invest 1.3 trillion won to expand natural gas production in order to develop an onshore block of Australia's Senex Energy, which it acquired this year, to develop a Mahar gas field in Myanmar and to start new rounds of exploration in Southeast Asia. Next, 700 billion won and 200 billion won will be invested in LNG power generation and eco-friendly energy, respectively.

      The company plans to invest with its own generated funds. The company's earnings before interest, taxes, depreciation and amortization (EBITDA) in the first half of this year were around 1.5 trillion won, which means it has enough cash to invest. It also announced a plan to triple its market cap by 2030 to enhance shareholder value, which has risen to 13 trillion won.

    TOP

    Other Articles - International


    TOP

       Home  -  Feedback  -  Contact Us  -  Safe Sender  -  About Energy Central   
    Copyright © 1996-2023 by CyberTech, Inc. All rights reserved.
    Energy Central® and Energy Central Professional® are registered trademarks of CyberTech, Incorporated. Data and information is provided for informational purposes only, and is not intended for trading purposes. CyberTech does not warrant that the information or services of Energy Central will meet any specific requirements; nor will it be error free or uninterrupted; nor shall CyberTech be liable for any indirect, incidental or consequential damages (including lost data, information or profits) sustained or incurred in connection with the use of, operation of, or inability to use Energy Central. Other terms of use may apply. Membership information is confidential and subject to our privacy agreement.