POSCO, South Korea’s largest steelmaker, is considering selling off stakes in its liquefied natural gas terminal in Gwangyang port, in the southern part of the country, industry sources said Wednesday.

Insiders familiar with the company claimed the possible stake sale will not involve surrendering management rights of the terminal some 420 kilometers south of Seoul.

“POSCO recently picked a firm to manage the stake sale,” an industry watcher said, without elaborating on details.

The facility, completed in 2005, has infrastructure to unload the LNG from tankers to storage tanks, as well as ship out the gas.

The terminal itself is estimated to be worth up to 900 billion won ($871.5 million). (Yonhap)