Scoots, I agree with TD2K - it might behoove you to repost with some more details. What is the upstream steam pressure, what is the current valve size, what is the pipe diameter (upstream and downstream), where does the valve currently control (i.e., what percent open) during maximum demand? Also, what is the peak steam demand for the new component, and what sort of percentage increase is there from the old peak demand?
If you look at it as a simple pipe size increase without considering the load, orifice steam flow data shows that your Y (flow) varies with X (diameter) squared. System flow after increasing the pipe size from 12" to 16" (133%) will cause flow to go up 178%. This does not, however, take into consideration the actual system, friction losses due to pipe length, and the demanded load. Your answer might just be to install the new component without changing anything... I say put the new thing in a see what happens! If anyone asks, tell them some guy in a forum said it was okay.