POSCO and ExxonMobil are working together to develop LNG tank materials, the South Korean steel giant said on Wednesday (7th Oct).

As part of a new partnership, POSCO will apply its cryogenic high-manganese steel to LNG storage tanks for use in global LNG projects ordered by ExxonMobil.

High-manganese steel was approved by the Ministry of Trade, Industry and Energy last year for the use of materials for onshore LNG storage tanks.

A business agreement was signed between POSCO ad ExxonMobil’s Research & Engineering (RE) and Upstream Research Co (URC) virtually on Wednesday.