Kogas logs lower sales in June

South Korean LNG importing giant Kogas reported lower gas sales in June when compared to the same month last year.

Kogas sold 2.10 million mt last month, a drop of 15.4 percent when compared to 2.49 million mt in June last year, according to a stock exchange filing.

June sales dropped by 2.2 percent when compared to the previous month’s 2.15 million mt.

Purchases by power firms decreased by 18.9 percent year-on-year to 1.19 million mt in June. These purchases rose by 9.2 percent when compared to the previous month.

Moreover, Kogas said its city gas sales decreased by 10.4 percent year-on-year to 0.9 mt, while they dropped by 14.1 percent when compared to the month before.

During January-June this year, South Korean LNG imports rose to 23.11 million mt from 22.76 million mt last year, customs data shows.

The costs of these imports rose by 7 percent when compared to the year before, the data shows.

Kogas operates 77 LNG storage tanks at five LNG import terminals in South Korea.

The large terminals include Incheon, Pyeongtaek, Tongyeong, and Samcheok, while the firm has a small-scale regasification terminal at the Aewol port on Jeju island as well.

Also, the firm is building a large terminal in Dangjin.

Kogas reported a decline of 7.8 percent in its sales during January-March to 11.71 million mt.

The firm said its city gas sales decreased by 11.8 percent during the period due to a lower average temperature and decreased industrial demand due to the decline in price competitiveness compared to LPG.

Also, sales to power firms decreased by 2 percent and Kogas said total power generation decreased due to the economic recession.

Most Popular

LNG carrier arrives to load first LNG Canada cargo

The 174,000-cbm GasLog Glasgow has arrived at the LNG Canada jetty in Kitimat to load the first LNG cargo produced at the Shell-led terminal, an LNG Canada spokesperson told LNG Prime on Saturday.

Knutsen, Shell name ninth LNG newbuild

Norwegian shipowner Knutsen and UK-based energy giant Shell have named the ninth and final LNG carrier in a series of 174,000-cbm vessels.

BP seals LNG SPA with Italy’s A2A

UK-based energy giant BP has signed a long-term liquefied natural gas (LNG) supply deal with Italian electricity and gas distributor A2A.

More News Like This

South Korea’s Kogas ups May sales

South Korean LNG importing giant Kogas said its gas sales rose by 5 percent in May compared to last year.

South Korea’s Kospo seeks one spot LNG cargo

Korea Southern Power (Kospo) has released a tender inviting firms to submit bids for one spot LNG shipment for delivery in July 2025.

South Korean LNG terminal secures $815 million loan

South Korea's BS Hanyang and GS Energy have secured a 1.1 trillion won ($815 million) loan for their Northeast Asia LNG hub terminal in Yeosu.

South Korea’s Kogas boosts April sales

South Korean LNG importing giant Kogas said its gas sales rose by 13.9 percent in April compared to last year.