South Korean steelmaker POSCO has invited a group of strategy executives from the Russian gas company Gazprom to its Gwangyang Steel Works to visit the main facilities and discuss future marketing and cooperation plans.
The visit represents an opportunity for POSCO to strengthen cooperation with Gazprom, which holds 20 percent of the world`s natural gas reserves and is the world`s largest buyer of API grade steel plates, by expanding sales of API steel in Russia.
As SteelOrbis previously reported, POSCO has recently signed an agreement with Russia`s largest resources developer Mechel on construction of a permanent shift worker settlement for Elga Coal Complex, accelerating efforts to expand into Russia.