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.

- Advertisements -

Most Popular

DSME cancels order for two LNG carriers

South Korean shipbuilder Daewoo Shipbuilding and Marine Engineering said it had terminated an order for two LNG carriers with...

TotalEnergies to boost LNG investments

France's TotalEnergies, one of the world's largest LNG players, will continue to make big investments in the company's...

MISC charters new LNG carrier duo to ExxonMobil

Malaysia’s MISC, a unit of Petronas, said it would charter two newbuild liquefied natural gas (LNG) carriers to a...

More News Like This

KRISO: South Korea’s first coastal LNG bunkering ship named

South Korea's EK Heavy Industries has held a naming ceremony for the country's first coastal LNG bunkering ship, according...

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...

South Korea, Oman strengthen LNG ties

South Korea and Oman agreed to continue to cooperate closely on LNG supplies and the energy sector amid a...

Kogas sales inch up in July

South Korean LNG importer Kogas reported a slight increase in its July gas sales when compared to the same...