Kogas reports lower sales in July

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

Kogas sold 2.33 million mt last month, a drop of 9.9 percent compared to 2.59 million mt in July last year, according to a stock exchange filing.

July sales increased by 11.1 percent compared to the previous month’s 2.10 million mt.

Purchases by power firms decreased by 10.4 percent year-on-year to 1.41 million mt in July. These purchases rose by 18.8 percent compared to the previous month.

Moreover, Kogas said its city gas sales decreased by 9.3 percent year-on-year to 0.91 mt, while they rose by 1.1 percent when compared to the month before.

During January-July this year, South Korean LNG imports dropped slightly to 25.71 million mt from 26.01 million mt last year, customs data shows.

The costs of these imports rose by 1.2 percent 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 9.7 percent in its sales during January-June to 18.46 million mt.

The firm said its city gas sales decreased by 10.8 percent during the period due to higher average temperature and higher unit sales price and decreased demand due to the decline in price competitiveness compared to LPG.

Also, sales to power firms decreased by 8.3 percent and Kogas said total power generation decreased due to the economic recession.

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