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.

- Advertisements -

Most Popular

US to increase LNG supplies to UK under new deal

The US will boost supplies of liquefied natural gas (LNG) to UK terminals under a new deal revealed on...

Adani, TotalEnergies nearing completion of Dhamra LNG terminal in India

India's Adani and France's TotalEnergies have almost completed their Dhamra LNG import facility located in Odisha, on India’s east...

Trinidad, Shell, BP move forward with Atlantic LNG restructuring plans

Trinidad and Tobago has signed a restructuring deal with the shareholders of LNG producer Atlantic LNG, including Shell and...

More News Like This

Kogas’ sales in September almost flat

South Korean LNG importing giant Kogas reported almost flat gas sales in September when compared to the same month...

KRISO: South Korea’s first coastal LNG bunkering ship named

South Korea's EK Heavy Industries has held a naming ceremony for the country's first coastal LNG bunkering ship, according...

South Korea’s Kogas reports slightly higher sales in August

South Korean LNG importing giant Kogas reported a slight increase in its August gas sales when compared to the...

South Korea, Oman strengthen LNG ties

South Korea and Oman agreed to continue to cooperate closely on LNG supplies and the energy sector amid a...