POSCO International (KRX:047050) entered into a heads of agreement with Korea Southern Power for LNG terminal access and pipeline services, according to a Thursday filing with the Korean Exchange.
The potential contract is valued at around 975 billion won and will last 30 years, with POSCO providing services to Korea Southern Power through the Gwangyang LNG Terminal.
The parties aim to reach a definitive agreement by Dec. 31.
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