South Korea’s Kogas boosts May sales

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.

- Advertisements -

Most Popular

BP, PetroChina book capacity at Dutch Gate LNG terminal

BP and a unit of PetroChina have agreed to book long-term capacity at the Dutch Gate LNG import terminal,...

TotalEnergies releases Mozambique LNG report

French energy giant TotalEnergies on Tuesday released a report regarding the humanitarian situation in the province of Cabo Delgado,...

LNG carrier Golar Gandria sold for demolition

Floating LNG player Golar LNG has sold its 1977-built LNG carrier, Golar Gandria, for demolition, according to brokers. The 125,000-cbm...

More News Like This

Kogas logs lower sales in April

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

South Korea’s Kogas welcomes LNG bunkering vessel with new cargo system

A unit of South Korean LNG importing giant Kogas has taken delivery of a 7,500-cbm LNG bunkering vessel equipped...

South Korea’s Kogas reports lower sales in March

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

Jera, Kogas seal LNG cooperation pact

Japan’s Jera and South Korea's Kogas, the world's largest LNG buyers, have signed a memorandum of understanding to strengthen...