South Korea’s Kogas posts higher sales in March

South Korean LNG importing giant Kogas reported a rise in its March gas sales on the back of higher demand in the power generation sector.

Kogas sold 3.86 million mt last month, up 12.1 percent when compared to about 3.44 million mt the firm had sold in March 2021, according to a stock exchange filing.

March sales decreased by 7 percent when compared to the previous month’s 4.15 million mt.

Purchases by power firms rose by 15.9 percent year-on-year to 1.81 million mt in March. These purchases increased by 16.4 percent when compared to the previous month.

Furthermore, Kogas said its sales to retail gas companies for households and businesses rose by 9 percent year-on-year to 2.05 million mt, while they dropped by 21 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.

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