South Korea’s Kogas logs higher sales in May

South Korean LNG importing giant Kogas reported a rise in its May gas sales due to higher demand in the power generation sector.

Kogas sold 2.52 million mt last month, up 9.1 percent when compared to about 2.31 million mt the firm had sold in May 2021, according to a stock exchange filing.

May sales decreased by 7 percent when compared to the previous month’s 2.71 million mt.

Purchases by power firms rose by 19.9 percent year-on-year to 1.39 million mt in May. These purchases rose by 7.4 percent when compared to the previous month.

Furthermore, Kogas said its sales to retail gas companies for households and businesses declined by 1.9 percent year-on-year to 1.12 million mt, while these purchases dropped by 20.3 percent compared to the month before.

Kogas currently operates four large LNG terminals. These include Incheon, Pyeongtaek, Tongyeong, and Samcheok, but the firm has a small-scale regasification terminal at the Aewol port on Jeju island as well.

On top of these facilities, the LNG importer is building a large terminal in Dangjin.

Kogas imports LNG from plants located around the globe and it recently signed a deal with BP to buy US LNG for a period of 18 years.

In parallel, the firm is developing its hydrogen business and recently signed two deals.

Kogas aims to utilize its LNG infrastructure and knowledge gained in the LNG industry over the years to develop a hydrogen production and supply chain.

Most Popular

Worley gets full notice to proceed on first phase of CP2 LNG project

Australian engineering firm Worley has received a full notice to proceed from US LNG exporter Venture Global LNG under its reimbursable EPC contract for the first phase of the CP2 LNG project in Louisiana.

Venture Global’s Plaquemines LNG to commission fourth tank

US LNG exporter Venture Global LNG has received approval from the US FERC to commission the fourth storage tank with LNG at its Plaquemines plant in Louisiana.

MOL’s LNG carrier fleet stands at 104 vessels

MOL's large fleet of liquefied natural gas (LNG) tankers had 104 vessels as of the end of June this year.

More News Like This

South Korea gets first LNG Canada cargo

The 174,000-cbm GasLog Glasgow, which is carrying the first liquefied natural gas cargo produced at the Shell-led LNG Canada facility in Kitimat, has arrived in Tongyeong, South Korea, according to shipping data.

South Korea’s Kogas says June sales down

South Korean LNG importing giant Kogas said its gas sales decreased by 12.4 percent in June compared to last year.

South Korea’s Kospo launches fresh LNG cargo tender

Korea Southern Power (Kospo) has released a tender inviting firms to submit bids for one spot LNG shipment for delivery in September 2025.

LNG Canada to send third cargo

Shell-led LNG Canada is expected to soon ship the third cargo of liquefied natural gas from the Kitimat facility, according to shipping data.