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 same month a year ago.

Kogas sold 2.29 million mt last month, a rise of 0.4 percent when compared to about 2.28 million mt in August last year, according to a stock exchange filing.

August sales dropped by 11.5 percent when compared to the previous month’s 2.59 million mt.

Purchases by power firms decreased by 1.1 percent year-on-year to 1.37 million mt in August. These purchases dropped by 13.2 percent when compared to the previous month.

Moreover, Kogas said its sales to retail gas companies for households and businesses reached 924,000 mt, down by 8.8 percent when compared to the month before and up by 2.2 percent year-on-year.

South Korean LNG imports dropped from 30.6 million tons in the January-August period last year to about 29.8 million tons of LNG in the same period this year as prices surged, according to customs data.

Kogas imports LNG from plants located around the globe and currently operates four large LNG terminals in South Korea.

These include Incheon, Pyeongtaek, Tongyeong, and Samcheok. The firm has a small-scale regasification terminal at the Aewol port on Jeju island as well and is building a large terminal in Dangjin.

In parallel with LNG, Kogas is developing its hydrogen business. It 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

LNG tanker suffers rudder failure in Suez Canal

NYK's 2021-built LNG carrier Grace Emilia suffered a malfunction of its rudder in the Suez Canal on Wednesday, but...

Shell’s CEO says Europe’s energy crisis is far from over

The energy crisis in Europe is a "multiyear issue" and governments will have to work faster to address the...

Samsung Heavy to build LNG carrier duo for about $496 million

South Korean shipbuilding giant Samsung Heavy Industries has won a new order to build two liquefied natural gas (LNG)...

More News Like This

South Korea’s Kogas gets 5000th cargo at Pyeongtaek LNG import terminal

South Korean LNG importing giant Kogas said it had received the 5000th cargo at its Pyeongtaek LNG import terminal...

South Korea’s Kogas boosts December sales

South Korean LNG importing giant Kogas reported higher gas sales in December when compared to the same month a...

South Korea’s Kogas reports lower sales in November

South Korean LNG importing giant Kogas reported lower gas sales in November when compared to the same month a...

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...