South Korea’s Kogas says April sales slightly down

South Korean LNG importing giant Kogas reported a slight drop in its April gas sales following a rise of 12.1 percent in the month before.

Kogas sold 2.71 million mt last month, down 2 percent when compared to about 2.77 million mt the firm had sold in April 2021, according to a stock exchange filing.

April sales decreased by 29.7 percent when compared to the previous month’s 3.86 million mt when higher demand in the power generation sector boosted the company’s sales.

Purchases by power firms dropped by 7.9 percent year-on-year to 1.30 million mt in April. These purchases declined by 28.1 percent when compared to the previous month.

Furthermore, Kogas said its sales to retail gas companies for households and businesses rose by 4.2 percent year-on-year to 1.41 million mt, while they dropped by 31.2 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.

Under the Henry Hub-linked sale and purchase deal, BP Singapore, a unit of BP, will deliver 1.58 million tonnes of LNG per year to Kogas starting in 2025.

Kogas said this marked the first long-term supply contract between the two firms and the import volume covers about 3 percent of South Korea’s annual LNG consumption.

Most Popular

Yang Ming books LNG-powered containerships in South Korea

Taiwan’s Yang Ming Marine Transport has decided to order LNG dual-fuel container vessels from South Korea's Hanwha Ocean as part of its ongoing fleet optimization plan.

Sabah to take stake in Petronas’ third FLNG

SMJ Energy, owned by the Sabah government, has signed a heads of agreement with Malaysian energy giant Petronas to take a 25 percent stake in the latter's third floating LNG production unit.

Japan’s LNG imports drop in June

Japan’s liquefied natural gas (LNG) imports dropped by 2.8 percent in June compared to the same month last year, according to provisional data released by the country’s Ministry of Finance.

More News Like This

South Korea gets first LNG Canada cargo

The 174,000-cbm GasLog Glasgow, which is carrying the first liquefied natural gas cargo produced at the Shell-led LNG Canada facility in Kitimat, has arrived in Tongyeong, South Korea, according to shipping data.

South Korea’s Kogas says June sales down

South Korean LNG importing giant Kogas said its gas sales decreased by 12.4 percent in June compared to last year.

South Korea’s Kospo launches fresh LNG cargo tender

Korea Southern Power (Kospo) has released a tender inviting firms to submit bids for one spot LNG shipment for delivery in September 2025.

LNG Canada to send third cargo

Shell-led LNG Canada is expected to soon ship the third cargo of liquefied natural gas from the Kitimat facility, according to shipping data.