South Korea’s Kogas logs higher February sales

South Korean LNG importing giant Kogas reported a rise in its February gas sales, following a drop in the previous two months.

Kogas sold 4.15 million mt last month, up 11.5 percent when compared to about 3.72 million mt Kogas had sold in February 2021, according to a stock exchange filing.

February sales decreased by 10.3 percent when compared to the previous month’s 4.63 million mt.

Purchases by power firms rose by 7.8 percent year-on-year to 1.55 million mt in February. These purchases declined by 5.6 percent when compared to the previous month.

Furthermore, Kogas said its sales to retail gas companies for households and businesses rose by 13.9 percent year-on-year to 2.60 million mt, while they dropped by 12.9 percent compared to the month before.

Kogas currently operates four large-scale LNG terminals, namely Incheon, Pyeongtaek, Tongyeong, and Samcheok, as well as a small-scale regasification terminal at the Aewol port on Jeju island. The LNG importer is building a large terminal in Dangjin as well.

South Korean LNG imports rose almost 15 percent in 2021 to about 45.9 million mt, according to customs data.

Kogas and other importers paid about $25.4 billion for these LNG imports, up almost 62 percent year-on-year, the data showed.

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