South Korean LNG importer Kogas reported a slight increase in its July gas sales when compared to the same month a year ago.
Kogas sold 2.59 million mt last month, a rise of 0.6 percent when compared to about 2.57 million mt in July last year, according to a stock exchange filing.
July sales rose by 4.3 percent when compared to the previous month’s 2.48 million mt.
Purchases by power firms dropped by 2.7 percent year-on-year to 1.58 million mt in July. These purchases increased by 7.5 percent when compared to the previous month.
Moreover, Kogas said its sales to retail gas companies for households and businesses rose by 6.2 percent year-on-year to 1.01 million mt, almost flat when compared to the month before.
Kogas imports LNG from plants located around the globe and currently operates four large LNG terminals in South Korea.
These include Incheon, Pyeongtaek, Tongyeong, and Samcheok, but the firm has a small-scale regasification terminal at the Aewol port on Jeju island as well.
On top of these facilities, the LNG importer is building a large terminal in Dangjin.
In parallel with LNG, the firm is developing its hydrogen business. It aims to utilize its LNG infrastructure and knowledge gained in the LNG industry over the years to develop a hydrogen production and supply chain.