South Korean steelmaker, Posco has joined hands with US-based oil and gas company, ExxonMobil to develop liquified natural gas (LNG) storage tank materials, said media reports. 

 

Posco has signed a Memorandum of Understanding (MoU) with ExxonMobil Research & Engineering and ExxonMobil Upstream Research Company to expedite the development and application of high-manganese steel for global LNG projects. The agreement is a part of a long-term strategic partnership to expand the scope and develop eco-friendly and low-carbon technology.

 

Posco expects cryogenic high-manganese steel products to generate sales worth KRW100bn ($86.810mn).

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