Senex Energy, a Subsidiary of POSCO International, Inks 7 Long-Term Gas Supply Agreements in Australia


POSCO International Corp. declared on Thursday that its Australia-based subsidiary, Senex Energy Ltd., had entered into multiple long-term gas supply pacts with steel, utility, and other companies in the country.

Seven companies, including AGL Energy Ltd., BlueScope Steel Ltd., Liberty Steel, Orora, and three others, are the recipients of the agreements, according to a statement from the general trading arm of South Korean steel giant POSCO Holdings Inc.

Senex Energy, which is 51 percent owned by POSCO International, will supply around 133 petajoules of natural gas to these companies for up to 10 years, starting in 2025.

A petajoule is the standard unit of energy, with one joule equating to one watt of power dissipated for one second. One petajoule is equivalent to 278 gigawatt hours.

The 133 petajoules of natural gas is sufficient to produce 2.5 million tons of liquefied natural gas, which can provide around 25 percent of the eastern area of Australia, according to POSCO International.

POSCO International is also investing A$300 million (US$195.9 million) with Hancock Energy, its Australian partner and a major shareholder of Senex, to extend its gas treatment facility in northeastern Australia.

This photo provided by POSCO International Corp. on Aug. 10, 2023, shows an operating site of Senex Energy Ltd., an Australian energy company. (PHOTO NOT FOR SALE) (Yonhap)

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