POSCO International Corp. started test operations at its first gas processing facility in Queensland, Australia, marking a key step in the South Korean company’s plans to boost natural gas output in the region.
The plant, operated by POSCO’s subsidiary Senex Energy, will help purify and compress natural gas for power plants and city facilities across eastern Australia. The facility, located at the Atlas gas field, is part of a broader initiative to increase annual production from 20 petajoules to 60 petajoules, equivalent to 1.2 million tons of LNG.
POSCO International and Hancock Prospecting acquired Senex Energy in 2022. The company plans to launch two additional processing facilities in the second half of 2024, according to POSCO International President Lee Gae-in, who attended the completion ceremony alongside Australian Senator Susan McDonald and Hancock Chairman Gina Rinehart.
The expansion comes as eastern Australia grapples with growing energy demands from its industrial sector and population centers in Queensland, New South Wales, and Victoria. Test operations at the new facility are scheduled for completion by the second quarter of 2024.
