Posco International (KRX:047050) will invest 950 billion won to add two 200,000-kiloliter tanks at Gwangyang LNG Terminal 2 by July 2026, Pulse News reported last week.
The expansion will boost storage capacity to 1.33 million kiloliters, sufficient to supply heating gas nationwide for 40 days.
The terminal, which is a key LNG hub in South Korea, leases storage to major energy firms such as SK Inc.'s (KRX:034730) SK E&S and S-Oil (KRX:010950), generating annual revenues of 100 billion won with up to 40% profit margins, the report said.
Shares of S-Oil fell over 1% in recent trade on Monday while those of SK Inc. plunged more than 6%.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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