South Korean LNG importer Kogas continues to boost its gas sales year-on-year and they increased 41.9 percent in May.
Kogas said in a filing to the stock exchange it sold 2.31 million mt last month. This compares to 1.63 million mt Kogas had sold in May last year when demand substantially fell due to the Covid-19 pandemic.
May sales dropped 16.4 percent when compared to the previous month’s 2.76 million mt, the state-owned firm, which has a monopoly in domestic gas sales, said.
Moreover, purchases by power firms surged 79.1 percent year-on-year to 1.16 million mt in May. However, these purchases decreased 17.5 percent when compared to the previous month.
Kogas said its sales to retail gas companies for households and businesses rose 17 percent year-on-year to 1.14 million mt, while they decreased 15.3 percent compared to the month before.
The firm currently operates four large-scale LNG terminals, namely Incheon, Pyeong-Taek, Tong-Yeong, and Samcheok, as well as a small-scale regasification terminal at the Aewol port on Jeju island. The LNG importer plans to build a large terminal in Dangjin as well.