South Korea’s Kogas reports higher sales in August

South Korean LNG importing giant Kogas reported slightly higher gas sales in August compared to the same month last year due to higher demand for power generation.

Kogas sold 2.31 million mt last month, a rise of 0.8 percent compared to 2.29 million mt in August last year, according to a stock exchange filing.

August sales increased by 1.4 percent compared to the previous month’s 2.28 million mt, Kogas said.

Purchases by power firms rose by 4.4 percent year-on-year to 1.43 million mt in August. These purchases rose by 5.1 percent compared to the previous month.

Moreover, Kogas said its city gas sales decreased by 4.7 percent year-on-year to 0.88 mt, while they decreased by 4 percent compared to the month before.

During January-July this year, South Korean LNG imports dropped slightly to 25.71 million mt from 26.01 million mt last year, customs data shows.

August data is not yet available.

Kogas operates 77 LNG storage tanks at five LNG import terminals in South Korea.

The large terminals include Incheon, Pyeongtaek, Tongyeong, and Samcheok, while the firm has a small-scale regasification terminal at the Aewol port on Jeju island as well.

Also, the firm is building a large terminal in Dangjin.

Kogas reported a decline of 9.7 percent in its sales during January-June to 18.46 million mt.

The firm said its city gas sales decreased by 10.8 percent during the period due to higher average temperature and higher unit sales price and decreased demand due to the decline in price competitiveness compared to LPG.

Also, sales to power firms decreased by 8.3 percent and Kogas said total power generation decreased due to the economic recession.

- Advertisements -

Most Popular

Stena Bulk sells its last LNG carrier

Swedish shipping firm Stena Bulk has sold its last liquefied natural gas (LNG) carrier to an undisclosed Asian buyer. The...

Shell launches largest bio-LNG plant in Germany

A unit of LNG giant Shell has launched what it says is the largest bio-LNG production plant in Germany. The...

Oman LNG, Turkey’s Botas seal 10-year SPA

State-owned producer Oman LNG has signed a 10-year sales and purchase agreement with Turkey’s state-owned natural gas and LNG...

More News Like This

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...

Kogas inks South Korean LNG pump deal

South Korean LNG importing giant Kogas has signed a deal with compatriot Hyundai Heavy Industries Turbomachinery to support the...

Kogas logs lower sales in February

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

Woodside, Kogas seal long-term LNG supply deal

Australian LNG player Woodside has signed a long-term LNG supply deal with South Korean importer Kogas. The sales and purchase...