POSCO International Eyes U.S. Shale Gas Acquisition

POSCO International is expanding its presence in North America by acquiring U.S. shale gas assets.

The company will invest approximately $395,797,800 through its subsidiary, POSCO International E&P USA Inc., to acquire the assets.

This move follows POSCO International's long-term purchase of liquefied natural gas (LNG) in the U.S., and is seen as a step towards expanding the value chain of its North American energy business.

The company currently operates gas field exploration, development, and production businesses through its Myanmar and Australian operations. With this acquisition, POSCO International will add a new business foundation for producing gas directly in the North American region.