POSCO said it has formed a partnership with ExxonMobil, under which it will be applying its high-manganese steel to LNG storage tanks that will be used for global LNG projects ordered by the oil and gas giant.

According to the steelmaker, it signed the partnership with ExxonMobil’s Research Engineering Company (RE) and Upstream Research Company (URC) during an online ceremony.

ExxonMobil RE is in charge of basic research for materials and ExxonMobil URC is responsible for new materials’ applications to actual facilities.

Manganese steel refers to steel alloy containing 10 percent to 27 percent manganese to improve durability, strength and cryogenic toughness. Due to its strength, the material is designed to be applied to cryogenic LNG and fuel tanks.

In 2013, POSCO developed its high-manganese steel that contains 22.5 percent to 25.5 percent of manganese and withstands temperatures as low as minus 196 degrees Celsius. POSCO claims it is the world’s first company to develop high-manganese steel for commercial use.

Last year, POSCO won a government approval for using high-manganese steel for land LNG tanks and applied the material to LNG tank 5 at POSCO Energy’s LNG terminal in Gwangyang, South Jeolla Province. In 2018, the International Maritime Organisation’s (IMO) Maritime Safety Committee approved interim guidelines on applying POSCO’s high-manganese steel in cryogenic LNG storage and fuel tanks.

ExxonMobil URC President Tristan Aspray said: “This cooperation and commitment to long-term, strategic technology development combines ExxonMobil’s expertise in metallurgy application with POSCO’s expertise in world-class, high-quality steel manufacturing.”

For more information visit www.posco.com

8th October 2020