South Korean LNG importing giant Kogas reported higher gas sales in December when compared to the same month a year ago.
Kogas sold 5.01 million mt last month, a rise of 17.3 percent when compared to December 2021, according to a stock exchange filing.
December sales rose by 56.2 percent when compared to the previous month’s 3.20 million mt.
Purchases by power firms rose by 30.3 percent year-on-year to 2.03 million mt in December. These purchases rose by 26.3 percent when compared to the previous month.
Moreover, Kogas said its sales to retail gas companies for households and businesses rose by 9.8 percent year-on-year to 2.97 million mt while they surged by 86.3 percent when compared to the month before.
South Korean LNG imports dropped slightly from 42.07 million tons in the January-November period last year to about 41.88 million tons of LNG in the same period this year as prices doubled, according to customs data. December data has not yet been released.
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. The firm has a small-scale regasification terminal at the Aewol port on Jeju island as well and is building a large terminal in Dangjin.