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

Adnoc picks South Korean yards to build six LNG carriers

UAE’s energy giant Adnoc has selected two South Korean shipbuilders to build six liquefied natural gas (LNG) carriers following...

Aethon to buy Tellurian’s upstream assets for $260 million

Dallas-based private investment firm Aethon Energy Management has agreed to buy Tellurian’s integrated upstream assets for $260 million. The...

Golar says progress made on new FLNG deal

Floating LNG player Golar LNG is working to sign definitive agreements for an up to 20-year FLNG deployment. In February,...

More News Like This

South Korea’s Kogas reports lower sales in April

South Korean LNG importer Kogas reported lower gas sales in April compared to the same month in the year...

South Korea’s Kogas raises roof on giant Dangjin LNG tank

South Korean LNG importer Kogas has completed lifting the roof on the first 270,000-cbm tank at its LNG import...

BP, Kogas ink new long-term LNG supply deal

UK-based energy giant BP has signed a new long-term liquefied natural gas (LNG) sale and purchase deal with South...

South Korea’s Kogas boosts gas sales in March

South Korean LNG importer Kogas boosted its gas sales in March, the first monthly increase since August last year. State-owned...