ID :
323153
Fri, 04/04/2014 - 16:55
Auther :

S.KOREAN POSCO TO SET UP SYNTHETIC NATURAL GAS PLANT

Ulaanbaatar /MONTSAME/ Posco, South Korea’s top steelmaker, said Thursday that it has agreed with Mongolia’s energy-focused MCS Group to establish a 50:50 joint venture to build an synthetic natural gas (SNG) plant in Mongolia. According to news published at platts.com on Thursday, Posco has recently picked the SNG business as one of its future growth engines. It has been conducting research since 2009 with the country’s top oil refiner SK Innovation to develop technology to make SNG and coal-based oil through a coal-to-liquids process. The steelmaker currently consumes some 60,000 mt/month of liquefied natural gas (LNG) to fire its plants. It imports the LNG from the BP-led Tangguh project in Indonesia under a 20-year contract signed in 2009 for 550,000 mt/year.

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