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State-owned Kogas sold 3.55 million mt last month, compared to 3.35 million mt in March 2025, the firm said in a stock exchange filing.
March sales were 5 percent lower compared to the previous month’s 3.74 million mt, which marked a decrease of 11.2 percent on the year.
Purchases by power firms rose 15.6 percent year-on-year to 1.59 million mt in March and were 7.8 percent higher compared to the previous month.
Moreover, Kogas said its city gas sales dropped 0.8 percent year-on-year to 1.96 million mt last month. City gas sales were 13.3 percent lower compared to the previous month.
In February, Kogas said in its results report that it sold 34.51 million mt in 2025.
This is up by 1.1 percent compared to 34.12 million mt in 2024.
Kogas said its city gas sales rose by 3.3 percent to 19 million mt, while purchases by power firms decreased 1.4 percent to 15.5 million mt.
According to Kogas, there was an increase in heating demand driven by a year-on-year decline in average prices in February, April, and November last year.
Kogas noted that total power generation decreased due to an increase in coal-fired and renewable energy power generation.
Korean LNG imports
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.
In addition to these facilities, the firm is building a large terminal in the western port city of Dangjin, and it expects to launch the first phase of this facility in May next year.
There is currently no official data available on Korean LNG imports for March.
Customs data shows that South Korean LNG terminals received 8.86 million mt of LNG in the first two months of this year, a rise compared to 7.73 million mt in the same period last year.
Australia was the biggest supplier to South Korea in January-February, with 2.11 million mt of LNG, followed by Malaysia with 1.37 million mt and Qatar with 1.35 million mt.
South Korea has been affected by the Middle East crisis as it buys oil and LNG from the region.
QatarEnergy recently announced that it expects the damage to its Ras Laffan complex caused by missile strikes to cost about $20 billion a year in lost revenue and to take up to five years to repair, impacting supply to markets in Europe and Asia.
The state-owned firm stopped producing LNG at its giant Ras Laffan complex on March 2 due to military attacks on its operating facilities. It declared force majeure to its affected LNG buyers on March 4.
