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POSCO International Incheon Songdo headquarters. (Photo= provided by POSCO International) |
[Alpha Biz= Reporter Kim Jisun] POSCO International has made an additional investment of 300 billion won in the Australian natural gas company Senex Energy, aiming to triple production by next year through gas field expansion.
On the 31st, POSCO International announced its participation in the capital increase of its subsidiary, Senex Energy. The total capital increase amounts to 590.9 billion won, with POSCO International contributing 296 billion won, reflecting its 50.1% stake (Hancock Energy holds the remaining 49.9%). Despite the capital increase, the ownership percentages of POSCO International and Hancock Energy will remain unchanged.
In 2022, POSCO International acquired a 50.1% stake in Senex Energy for 405.2 billion won, securing management control. Established in 1984, Senex Energy is engaged in resource exploration and production in Australia, operating two onshore gas fields in Queensland.
Senex Energy plans to use the funds from the capital increase to expand its facilities. Upon completion of the expansion in 2025, annual production is expected to reach 60 petajoules (PJ, equivalent to 219,960 tons), approximately three times the current 20 PJ.
This year, the second year of its merger with POSCO Energy, POSCO International plans to invest a total of 1 trillion won solely in its energy business.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
