Gwangyang LNG Terminal
| Part of the Global Gas Infrastructure Tracker, a Global Energy Monitor project. |
Gwangyang LNG Terminal is an LNG terminal in South Jeolla, South Korea.
Location
Table 1: Location details
| Name | Location | Coordinates (WGS 84) |
|---|---|---|
| Gwangyang LNG Terminal | Gwangyang, South Jeolla, South Korea | 34.889, 127.7815 (exact) |
The map below shows the exact location of the terminal:
Project Details
Table 2: Infrastructure details
| Name | Facility type | Status | Capacity | Total terminal capacity | Offshore | Associated infrastructure |
|---|---|---|---|---|---|---|
| Gwangyang LNG Terminal | import[1] | operating[2] | 7.1 mtpa[1] | 7.1 mtpa | False | Gwangyang 2 LNG Terminal[3] |
Table 3: Cost
| Name | Facility type | Cost | Total known terminal costs |
|---|---|---|---|
| Gwangyang LNG Terminal | import[1] | US$840,000,000 (1,050,000,000,000 KRW) | US$840,000,000 |
Financing
No financing data available.
Table 4: Project timeline
| Name | Facility type | Status | Proposal year | FID year | Construction year | Operating year | Inactive year |
|---|---|---|---|---|---|---|---|
| Gwangyang LNG Terminal | import[1] | operating[2] | – | – | – | 2005[2] | – |
Ownership
Table 5: Ownership
| Name | Facility type | Status | Owners | Parent companies | Operator |
|---|---|---|---|---|---|
| Gwangyang LNG Terminal | import[1] | operating[2] | POSCO International Corp [100%][4][5] | POSCO International Corp [100.0%] | – |
Background
Gwangyang LNG Terminal is an LNG import and regasification terminal in South Jeolla, South Korea. It is owned by POSCO and has a capacity of 3.1 mtpa. It was commissioned in 2005.[6]
An expansion project increased its import capacity to 5.2 mtpa.[7]
According to GIIGNL's 2023 report, two more LNG storage tanks are being developed at the facility by NH Company (a joint venture between Posco and subsidiary Posco Energy), with construction expected to be finished by 2025.[8][9]
According to GIIGNL's 2024 report, one additional tank with a capacity of 200,000 m3 is expected to be commissioned, followed by two more in 2025. POSCO has also indicated in February 2024 that it intends to establish hydrogen production at the terminal in the coming years.[10] The capacity was reported at this point to be 7.1 mtpa.
The project is believed to have recieved a US$198.2 million loan from Industrial Bank of Korea and a US$175.8 million loan from the Export-Import Bank of Korea, both closed in 2024, and is believed to be receiving US$306 million in equity financing from POSCO International.[11][12] [13]
Articles and resources
References
- ↑ 1.0 1.1 1.2 1.3 1.4 (PDF) https://giignl.org/wp-content/uploads/2024/06/GIIGNL-2024-Annual-Report-1.pdf.
{{cite web}}: Missing or empty|title=(help) - ↑ 2.0 2.1 2.2 2.3 (PDF) https://cdn.prod.website-files.com/67bdb9fc993751711c5f54fd/685278fda1e68e3b4324e2cf_0432365c1c5b8fb129ae8055cca8cb9b_%23GIIGNL%20-%20Livre%202025-20250610-Simple.pdf.
{{cite web}}: Missing or empty|title=(help) - ↑ https://www.kedglobal.com/us/energy/newsView/ked202407090012.
{{cite web}}: Missing or empty|title=(help) - ↑ https://newsroom.posco.com/en/posco-international-completed-construction-of-gwangyang-lng-terminal-1/.
{{cite web}}: Missing or empty|title=(help) - ↑ https://www.poscointl.com/eng/lngBusiness.
{{cite web}}: Missing or empty|title=(help) - ↑ GIIGNL 2021 Annual Report, accessed May 5, 2021
- ↑ The LNG Industry: GIIGNL Annual Report. GIIGNL. May 2022.
- ↑ GIIGNL. The LNG Industry: GIIGNL Annual Report 2023. July 14, 2023.
- ↑ LNG Prime Staff (2023-01-31). "South Korea's Posco starts building two Gwangyang LNG tanks". LNG Prime. Retrieved 2023-08-29.
- ↑ GIIGNL. The LNG Industry: Annual GIIGNL Report. June 2024.
- ↑ "POSCO INTERNATIONAL Completed Construction of Gwangyang LNG Terminal 1". newsroom.posco.com. Retrieved 2025-09-18.
- ↑ "POSCO INTERNATIONAL/Decision on Provision of Debt Guarantee for Others/2025.06.27". englishdart.fss.or.kr. Retrieved 2025-09-18.
- ↑ POSCO International, "Consolidated financial statements for the year ended December 31, 2024 with the independent auditor’s report." Accessed 18 September 2025.https://www.poscointl.com/upload/file/202506/202506IIWgZisZ3.pdf
