POSCO, South Korea's biggest steelmaker, said Tuesday that it has developed a LNG storage tank in collaboration with Korea Advanced Institute of Science and Technology (KAIST) that reduces the need for storage space on vessels. The tank can store up to 20,000 cubic meters of LNG, 20 times more than the previously largest LNG storage tank, the company said in an e-mailed statement, claiming that the technology has been developed for the first time.