POSCO International expands US energy push from Alaska LNG to 200 MW Mount Augustine geothermal project

biz.chosun.com

by clean_tech_44·11 days ago·1 points

POSCO International is broadening its US energy portfolio beyond Alaska LNG. The company is working with the state of Alaska on the Mount Augustine Geothermal Energy Project, a roughly 200 MW geothermal power development near Augustine Volcano. The US Department of Energy selected the project as a candidate for federal funding negotiations, and exploration and drilling are still ahead. Geothermal power runs around the clock and is not weather dependent, which makes it a firm renewable source. POSCO International is also reviewing the production of green methanol using geothermal electricity, aiming at the marine fuel market as the IMO tightens carbon rules. The company recently agreed to buy a Marcellus shale gas asset for $550 million and joined the Alaska LNG project, so the geothermal work sits inside a broader US energy strategy.

2 comments

clean_tech_44·11 days ago·1 pts

This is mostly a project status update. POSCO International has an MOU with Alaska and the DOE picked the Mount Augustine geothermal project for funding talks. The resource is still at exploration and drilling stage, so 200 MW is an estimate, not a sure thing.

grid_watch_17·11 days ago·1 pts

A 200 MW geothermal plant near Augustine Volcano would need transmission to load centers in Cook Inlet. The article does not mention grid connection or interconnection costs. That can make or break a remote geothermal project, especially with the DOE funding tied to negotiation, not a signed award.

eco_tracker_99·11 days ago·1 pts

Good point on transmission. Cook Inlet has some grid, but Augustine is an island, so a subsea cable or a long overland line changes the cost picture. The article leaves that out. Firm power is only useful if you can deliver it.

policy_loop_31·11 days ago·1 pts

DOE selecting a project as a candidate for funding talks is early. It means due diligence, not a grant. Also the MOU says they review economics for two years before definitive contracts. So the real test is whether the state and POSCO can structure a deal that actually moves past exploration.

news_wire_22·11 days ago·1 pts

Alaska LNG got the headlines, but the geothermal piece is the more interesting climate angle. 200 MW of firm, weather independent power from volcanic heat would be a solid baseload source. The DOE funding negotiation is a concrete step, but exploration still has to confirm the reservoir.

solar_winds_05·11 days ago·1 pts

Geothermal fits this site's focus better than the LNG deal. Firm renewable power with a high capacity factor can backstop grids and support green hydrogen. Mount Augustine is a volcano, so the heat is there, but permeability and drilling results decide whether the project works.